MicroStrategy Unveils 10% Euro STRE Stock to Buy More Bitcoin — A Bold $370M Move
MicroStrategy Launches Euro-Denominated $STRE Preferred Stock with 10% Annual Yield to Expand Bitcoin Holdings
MicroStrategy Inc., the world’s largest corporate holder of Bitcoin, has announced plans to issue 3.5 million shares of its newly created 10% Series A Perpetual Stream Preferred Stock ($STRE). This marks the company’s first-ever Euro-denominated preferred stock offering, a strategic move aimed at diversifying its funding sources while expanding its Bitcoin treasury reserves.
According to the official announcement, the new $STRE shares will be priced at €100 per share (approximately $106), with the issuance expected to raise around $370 million. The proceeds will be used primarily to acquire more Bitcoin and support MicroStrategy’s general corporate operations.
A Strategic Euro-Denominated Offering
The introduction of $STRE represents a milestone for MicroStrategy’s capital strategy. Unlike the company’s previous U.S.-dollar-denominated instruments, this new class of stock provides a Euro-based capital structure, appealing to European and international institutional investors. The offering carries a fixed annual dividend rate of 10%, to be distributed quarterly starting December 31, 2025, subject to board approval.
Unlike traditional bonds, the $STRE issue is perpetual, meaning it has no maturity date. In the event dividends are not paid, the yield will automatically increase by 100 basis points per quarter, capped at an 18% annualized rate. This mechanism makes $STRE one of the most attractive high-yield instruments in the European market, especially at a time when many comparable hybrid securities offer returns of just around 6%.
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Analysts suggest that for U.S. investors, the effective yield could reach nearly 16% on a tax-equivalent basis. This makes the offering not only a lucrative fixed-income opportunity but also an indirect way for investors to gain crypto-linked exposure without directly owning Bitcoin.
Strengthening the Bitcoin Treasury
MicroStrategy has made no secret of its ambition to position Bitcoin as its core treasury reserve asset. As of November 2025, the company holds 641,205 BTC, valued at approximately $71 billion, making it the largest institutional Bitcoin holder in the world.
The $STRE issuance continues this bold strategy, following a series of financing rounds earlier in the year, including the $STRF notes, which raised over $6 billion. By introducing a Euro-based offering, the company seeks to broaden its investor base and reduce dependence on U.S.-dollar financing.
According to MicroStrategy’s co-founder and executive chairman Michael Saylor, this expansion reflects the company’s commitment to “integrating Bitcoin with traditional capital markets.” He emphasized that the Euro issuance “bridges European financial institutions with the future of digital assets,” offering a way to merge traditional yield structures with crypto innovation.
Market Response and Investor Appeal
Early investor interest in the $STRE issue has been robust. The 10% fixed coupon stands out sharply against current European high-yield benchmarks, which average around 6%. In addition, the perpetual nature of the security and its Bitcoin-linked narrative give it an edge over conventional corporate debt.
Financial strategists describe $STRE as a hybrid between equity and fixed income, offering both long-term capital appreciation and a steady yield stream. Since it is a return-of-capital instrument, dividends are treated differently for tax purposes, further enhancing its attractiveness to international investors.
Analyst reports from Barclays and Morgan Stanley—two of the lead bookrunners—indicate that the security could appeal to pension funds, family offices, and institutional investors seeking exposure to digital assets within a regulated framework.
Terms, Redemption, and Risk Considerations
Under the terms of the offering, each $STRE share carries a par value of €100 and entitles holders to quarterly dividend payments in euros. If the company chooses not to pay dividends in a given quarter, the unpaid amounts will accumulate and compound quarterly, increasing by 1% each period until they are paid, with the total capped at 18%.
MicroStrategy reserves the right to redeem outstanding $STRE shares if the aggregate outstanding amount falls below 25% of the original issue or in response to changes in taxation or regulatory conditions. Upon redemption, holders will receive a liquidation preference of $106 per share, subject to adjustments based on the market price.
While the structure offers significant yield potential, it also carries inherent risks. The perpetual nature of the stock means that investors may never receive a full redemption, and the company’s heavy exposure to Bitcoin introduces volatility and valuation risk tied to cryptocurrency markets.
However, many analysts argue that MicroStrategy’s consistent strategy and its ability to leverage Bitcoin’s performance as a corporate treasury asset make this a well-calibrated risk for yield-seeking investors.
A Move to Strengthen Global Presence
The $STRE issuance is being managed by an impressive consortium of financial institutions, including Barclays, Morgan Stanley, Moelis & Company, SG Americas, TD Securities, Canaccord Genuity, and StoneX Financial, serving as joint bookrunners. This lineup reflects the company’s ambition to cement its presence in European and global capital markets.
The new offering not only provides diversification but also signals a growing acceptance of crypto-linked financial products in mainstream finance. By denominating the preferred stock in euros, MicroStrategy aligns itself with a broader pool of investors who have traditionally been underexposed to the crypto ecosystem due to currency or regulatory barriers.
Positioning MicroStrategy as a Dual Powerhouse
Beyond its Bitcoin strategy, MicroStrategy continues to operate as a global leader in enterprise analytics and business intelligence software. The company’s dual identity—as both a tech innovator and a financial pioneer in digital assets—positions it uniquely within the evolving financial landscape.
The launch of $STRE underscores this hybrid role. It demonstrates how a publicly listed U.S. technology firm can successfully integrate blockchain-oriented asset management with traditional corporate finance tools.
Industry observers note that MicroStrategy’s approach may pave the way for similar instruments from other companies looking to balance between high-yield investment products and digital asset exposure. The company’s consistent focus on Bitcoin as a core strategic asset has already inspired other institutional investors to explore similar treasury models.
Broader Implications for the Crypto and Financial Sectors
The success of MicroStrategy’s $STRE could have broader implications across both the cryptocurrency and traditional finance sectors. If well received, it may set a precedent for other corporations to launch crypto-linked hybrid securities, bridging the gap between digital assets and regulated capital markets.
Moreover, it reflects a growing trend of companies integrating token-like yield structures within conventional financial frameworks. The combination of high yield, Euro exposure, and Bitcoin linkage could attract new classes of investors who were previously cautious about entering the digital asset space directly.
In the long term, MicroStrategy’s move could reinforce its status not only as a Bitcoin pioneer but also as a trendsetter in financial engineering, blending traditional and digital finance into a single, cohesive investment ecosystem.
As of early November 2025, the company’s bold strategy continues to draw both admiration and scrutiny from market participants. Yet one thing remains clear: MicroStrategy’s commitment to pushing the boundaries between corporate finance and cryptocurrency innovation shows no signs of slowing down.
For additional details, interested investors can review the official $STRE prospectus available on MicroStrategy’s investor relations website.
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