Strategy Raises $715M in Europe to Purchase More Bitcoin — Here’s How Much BTC It Can Buy

Strategy Inc. has finalized the pricing of its 10% Series A Perpetual Stream Preferred Stock (STRE), expecting to raise approximately €620 million ($715 million) in gross proceeds.
The company increased the size of the deal from an initial €350 million after stronger-than-expected institutional demand. The offering is scheduled to close on November 13, 2025, pending regulatory clearance.

Strategy announces pricing of its Stream Perpetual Preferred Stock ($STRE) Offering and upsizes the deal from €350 Million to €620 Million. $MSTR https://t.co/AyN67dQ1jy

— Michael Saylor (@saylor) November 7, 2025

According to the company’s disclosure, proceeds will be directed toward corporate liquidity, Bitcoin acquisitions, and operational funding. The move continues Strategy’s capital-raising cycle aimed at expanding its digital asset reserves. Bloomberg’s euro–dollar conversion rate of €1.00 to $1.1534 values the expected proceeds at approximately $715.1 million. 

At the current Bitcoin price of $102,294, the $715 million in proceeds would allow Strategy to purchase approximately 6,989 BTC.

Dividend Structure and Deferral Provisions

Each STRE share carries a 10% annual dividend rate, payable quarterly beginning December 31, 2025. The distribution dates fall on March 31, June 30, September 30, and December 31. If dividends remain unpaid, the amount accrues interest at an additional 1% per quarter, compounding up to an 18% annual cap.

If dividends are deferred, the company must issue a formal notice and may conduct additional security sales to fulfill obligations. These may include other preferred stock categories such as Stride, Strike, or Strife. Strategy also holds redemption rights for the full series if the outstanding total drops below 25% of its initial issuance or following specific tax-related events.

Redemption and Market Adjustment Mechanism

The redemption value equals the liquidation preference per share plus any accrued dividends. Moreover, the initial liquidation preference stands at €100 per share but is subject to daily adjustments tied to market pricing. The structure enables flexibility for value alignment as trading activity fluctuates.

In addition, according to the report, joint book-running managers for the offering include Barclays, Morgan Stanley, Moelis & Company, SG Americas Securities, TD Securities, Canaccord Genuity, and StoneX Financial.

Regulatory filings state that the securities will be distributed exclusively to professional and institutional investors within the European Economic Area and the U.K., ensuring compliance with the Prospectus and PRIIPs frameworks. 

Meanwhile, Strategy has consistently used its stock offerings to fund Bitcoin acquisitions. Since August 2020, the company has accumulated 641,205 BTC, making it the largest corporate holder of Bitcoin.

Its most recent purchase, announced on November 3, added 397 BTC to its holdings. With Bitcoin currently trading at $102,294, Strategy’s total Bitcoin reserves are valued at approximately $65.59 billion.