How Strategy new financial channels will reignite Bitcoin buying spree

After years of incessant shopping, Strategy Inc.the digital asset treasury company led by Michael Saylorhe quietly lowered his pace of Bitcoin accumulation.

In recent weeks, the company’s files have shown that its BTC purchases have only dropped to a few hundred coinswhich represents a sharp slowdown for the largest corporate holder of the flagship cryptocurrency.

During the third quarter earnings callSaylor explained that the slowdown was due to the company being at an “inflection point.”

According to him:

“Our multiple to net asset value, MNAV, has been trending and has been trending over time as the Bitcoin asset class matures, as volatility decreases.”

However, that calm may be temporary, as new channels of corporate funding are now in motion.

It is a 10% euro-denominated perpetual preferred bond listed in Luxembourg and an American floating-rate issue that has just regained its nominal value of $100.

Together, the products could reopen the flow of capital into Strategy’s Bitcoin reserves and test whether yield-hungry investors will once again fund Saylor’s $70 billion bet on digital scarcity.

The strategy is international with STRE

The last quarter of the strategy underlined both the pause and the potential. The company reported $2.8 billion in net income, mainly from unrealized gains on its Bitcoin holdings, but added only a modest number of coins.

Industry analysts attributed the slowdown to lighter demand for the company’s common stock and its four listed preferred stock offerings, which have long been its primary sources of financing.

Bitcoin analyst James Check he said: :

“The company is struggling to keep them above the nominal value, and the daily trading volume is so light, no one can put any size. The demand is lukewarm.”

However, this may change as the company expands internationally.

November 3, Strategy introduced the Series A Perpetual Stream Preferred (STRE), a security denominated in euros that carries an annual dividend of 10%, paid quarterly in cash.

The dividend is cumulative and increases by 100 basis points per missed period, up to a maximum of 18%. He added that the proceeds of this fundraising will be used for “general corporate purposes, including the purchase of Bitcoin.”

In particular, the economic background favors experimentation.

According to BNY Melloneuro-denominated corporate bond spreads remain tight by historical norms even after the European Central Bank’s tightening cycle. The region saw the second highest investment grade inflows in six years, pushing the size of the total market past 3.2 trillion euros across more than 3,700 issuers.

With BBB yields close to 3.5% and single-Bs around 6.5% (FTSE Russell), STRE’s 10% coupon stands out. Bitcoin analyst Adam Livingston said:

“Even before tax, STRE doubles high-yield coupons and triples investment-grade coupons. After U.S. tax equivalent conversion, the yield explodes to 15.9 percent thanks to its ROC treatment!”

STRC taps the pair to reopen the US tap

Meanwhile, the European listing follows the movement at home that could also bring back an additional source of financing for the company.

During Strategy’s third quarter results call, the firm announced that it will increase the coupon on its list of US Variable-Rate Series A Perpetual Stretch Preferred (STRC) by 25 basis points to 10.5% in November.

The adjustment is intended to stabilize market prices and keep the favorite close to its $100 target.

After the announcement, STRC reached the $100 par for the first time since its launch in July.

Strategy investor Mark Harvey pointed out that this development will allow the company to sell new shares and funnel that liquidity into BTC.

He he said: :

“The TAM for $ STRC is $ 33 trillion. It is $ 33 trillion of performance capital, which is attracted to STRC like a magnet because it offers a higher yield (10.5%). Since Strategy aims to maintain the target of $ 100 for STRC, it will follow its lead and start issuing new shares through ATM 10, simply start by buying STRC. that $ 33T in BTC a powerful catalyst for Bitcoin.

Financial analyst Rajat Soni echoed the enthusiasm, saying: :

“$100 STRC Means Strategy Can Start ATMing Actions to Buy Bitcoin… A New Funding Source Unlocked.”

Indeed, Saylor had explained that “as credit investors begin to understand the appeal of digital credit, they will want to buy more, and we will sell more and issue more credit.”

He added:

“As equity investors begin to appreciate the uniqueness of Bitcoin’s treasury model, and especially the uniqueness of our company and our ability to issue digital credit globally at scale, we think this will drive equity appreciation.”

What does this mean for Bitcoin?

At its peak, Strategy Inc. was the most aggressive corporate buyer of Bitcoin.

Given by Bitwise shows that the firm added more than 40,000 BTC in the third quarter, far surpassing any other public holder. Those purchases, analysts say, have repeatedly supported market sentiment and, at times, the asset’s spot price.

According to CryptoQuant analyst JA Maarturn, Strategy’s shares remain “highly correlated with the price of Bitcoin”, reflecting how the company’s trading often mirrors that of the cryptocurrency itself.

That link could strengthen again because the revival of STRC and the debut of STRE create a two-continent funding cycle capable of strengthening the corporate accumulation of Bitcoin.

Beyond Strategy’s budget, the twin favorites deepen The financial integration of Bitcoin with the traditional ecosystem. Each share sold channels conventional yield-seeking capital into exposure to Bitcoin’s book value, effectively turning investors’ appetite for income into indirect demand for the asset.

Peter Duan, a Bitcoin analyst, too pointed except that the products will introduce a significant factor of “liquidity” to the market.

According to him:

“A HIGHLY underrated part of MSTR’s favorites is the fact that they have tremendous liquidity that is backed by the most pristine asset in the world – Bitcoin. For reference, the average listed USD favorite has only $1.1M in daily liquidity, while the average listed Euro favorite has only $1.0M in daily liquidity. Said another way, Liquid Preferred Strategy from 12X-70.

This depth matters because greater turnover reduces funding friction and accelerates the flow of capital between investor demand and Bitcoin purchases.

So, if STRC maintains its nominal value and STRE gains traction in Europe, each new tranche could act as a direct liquidity conduit from traditional markets into the crypto economy.

In addition, Saylor’s model also recasts Bitcoin’s macro role as not just a speculative reserve, but a collateral basis for performance engineering.

This provides a clear feedback loop, showing that healthy preferred markets allow a new issue, which finances Bitcoin purchases; these purchases, in turn, reinforce the balance sheet value and the market’s perception of scarcity.