Michael Saylor’s Bitcoin corporate holder, Strategy, has announced a significant capital-raising initiative, filing for an Initial Public Offering (IPO) of a new Euro-denominated credit instrument to fuel its ongoing Bitcoin accumulation strategy. The company plans to offer 3.5 million shares of its 10.00% Series A Perpetual Preferred Stock, which will trade under the symbol STRE, the company said in a statement.
According to the company, the net proceeds from this offering will be dedicated to general corporate purposes, including the acquisition of additional Bitcoin. Executive Chairman Michael Saylor stated that the STRE is designed to attract European and global institutional investors, offering them a new way to gain exposure to the firm’s Bitcoin treasury without diluting common stock.
The STRE shares will carry a liquidation preference of €100 per share and will accumulate cumulative dividends at 10% annually, payable quarterly in cash starting December 31, 2025. Unpaid regular dividends will also compound quarterly, initially at 10% per annum, but can escalate up to 18% per annum under certain conditions, reflecting the specific sections for dividend deferrals and compounding.
This IPO filing comes as Strategy continues its aggressive Bitcoin accumulation; the firm recently confirmed a purchase of 397 BTC between October 27 and November 2, totaling $45.6 million in cash.
Strategy holds the largest corporate Bitcoin stash, boasting over 641,205 BTC (worth approximately $67.67 billion), and the introduction of STRE signifies that the company shows no signs of slowing down its commitment to BTC buys, irrespective of market conditions.
