MicroStrategy Expands European Presence with Innovative Equity Offering

In a strategic move to broaden its investor base, MicroStrategy is making its first foray into European capital markets. The enterprise software firm, widely recognized for its substantial Bitcoin treasury, is introducing a novel class of preferred shares denominated in euros. This financial innovation coincides with the company's ongoing aggressive accumulation of cryptocurrency, though market participants have shown divided reactions to this dual-pronged approach.

The company has unveiled plans to issue 3.5 million shares of "Series A Perpetual Stream Preferred Stock," marking its inaugural euro-denominated offering. These preferred securities will carry an attractive 10% annual dividend yield. Management has explicitly stated that proceeds will be allocated toward additional Bitcoin purchases and general corporate purposes.

This financing strategy represents a significant departure from MicroStrategy's previous funding methods, allowing the company to access continental European investors while diversifying its capital structure. The move demonstrates how traditional equity instruments are being adapted to support digital asset strategies.

Sustained Bitcoin Accumulation Continues Unabated

Concurrent with its European capital markets initiative, MicroStrategy maintains its relentless Bitcoin acquisition program. Recent regulatory filings reveal the company purchased an additional 397 Bitcoin between October 27 and November 2, 2025, spending approximately $45.6 million at an average price of $114,771 per coin.

The scale of MicroStrategy's cryptocurrency holdings continues to draw attention:

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• Total Bitcoin Holdings: 641,205 BTC
• Total Investment: Approximately $47.5 billion
• Latest Acquisition: 397 BTC for $45.6 million

These digital asset purchases are funded through ongoing sales of both common and preferred stock. Just last week, the company sold 183,501 common shares, generating proceeds of about $54.4 million.

Investor Sentiment Reflects Strategic Uncertainty

Market response to MicroStrategy's aggressive expansion has been mixed. While the announcement of euro-denominated preferred shares initially sparked after-hours gains, pre-market trading saw the stock under pressure. This volatility underscores investor ambivalence regarding the company's single-minded focus on Bitcoin accumulation.

Despite concerns about strategy, the company's financial performance remains robust. Third-quarter 2025 results showed revenue of $128.69 million and net income of $2.79 billion. These exceptional earnings primarily stem from unrealized gains within the company's substantial Bitcoin portfolio, highlighting how digital asset valuation impacts traditional financial metrics.

The divergent market reactions suggest ongoing debate among investors about the long-term viability of MicroStrategy's transformation from a business intelligence software provider to a publicly-traded Bitcoin acquisition vehicle with European financing operations.