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Treasury company Crypto Strategy has filed for an initial public offering of a perpetual euro-denominated stock in its ongoing strategy to accumulate Bitcoin.
Strategy he said On Monday it plans to offer 3.5 million shares of stock under the ticker STRE, with the net profit from its sales being used to buy Bitcoin (BTC) and for general business purposes.
The shares provide a cumulative annual dividend of 10% on the declared amount of 100 euros ($115), paid quarterly starting on December 31.
Strategy said STRE shares are only for “qualified investors” in the EU and UK, and that the shares will not be “offered, sold or otherwise made available to any retail investor” in those regions.
The strategy offers $STR (“Stream”), our first Euro-Denominated Perpetual Preferred Share, to European and global institutional investors. $mstr pic.twitter.com/tCectc2uA2
– Michael Saylor (@saylor) November 3, 2025
The company’s business model, implemented by founder Michael Saylor in mid-2020, allowed it to issue shares and raise capital to buy Bitcoin, which helped it accumulate the largest amount of Bitcoin among publicly traded companies.
The strategy currently holds 641,205 BTC that it acquired for $47.49 billion, after announcing earlier on Monday that acquired 397 Bitcoins to begin November.
The strategy model started a whole set of copies who have raised billions of dollars in investor money to accumulate Bitcoin and other cryptocurrencies, including Ether (ETH).
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Saylor said Thursday that Strategy is unlikely to change its model, telling investors on a call that “the focus is to sell digital credit, improve the balance sheet, buy Bitcoin and communicate that to credit and equity investors”.
Some analysts are concerned that the business model of the crypto treasure could collapse due to the number of entrants, and such companies will have to buy their rivals to be competitive.
Saylor told investors that Strategy is unlikely to do that, and the company has no plans to pursue mergers and acquisitions, “although it would appear to be potentially incremental.”
Strategy said Barclays, Morgan Stanley, Moelis and TD Securities are some of the bookrunners for its latest share offering.
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