MSTR Stock, Strategy’s Unrealized Gains Slip Amid STRE Preferred Shares Offering

Strategy (formerly MicroStrategy), the largest corporate Bitcoin treasury, has announced an offering for its perpetual STRE preferred stock. This will be the first-ever Euro-dominated preferred stock offering for European and global institutional investors. As anticipated, MSTR stock slips in trading and post-market close as the firm plans to acquire more BTC with the latest stock offering.

Strategy Announces STRE Preferred Stock Offering

Strategy (formerly MicroStrategy) intends to conduct an initial public offering of 3,500,000 shares of Strategy’s 10.00% Series A perpetual STRE preferred stock, according to a press release. The firm proposes to use proceeds from the offering for general corporate purposes. This includes the acquisition of more Bitcoin and its use for working capital.

Strategy is offering $STRE (“Stream”), our first ever Euro-Denominated Perpetual Preferred Stock, to European and global institutional investors. $MSTR pic.twitter.com/tCectc2uA2

— Michael Saylor (@saylor) November 3, 2025

Joint book-running managers are Barclays, Morgan Stanley. International plc, Moelis & Company, SG Americas Securities, TD Securities (USA), Canaccord Genuity, and StoneX Financial.

The firm declared regular cumulative dividends on the STRE stock, which will be payable in cash starting December 31. If unpaid, the STRE stock dividend will compound at a rate per annum equal to 10% plus 100 basis points. Strategy will make reasonable efforts over the following 60-day period to sell STRK, STRD, and MSTR class A common stock to cover any deferred dividends.

MSTR Stock Dips Amid Jitters

MSTR stock closed 1.80% lower at $264.68 on Monday amid selling pressure in Bitcoin. Returns on the stock continue dropping amid another crypto market crash jitters, with shares falling more than 26% in a month. According to Yahoo Finance, the YTD return has tumbled to 8.61%.

After market hours, MSTR stock has dropped 2.60% in response to perpetual STRE preferred stock offering. The 24-hour low and high were $259.85 and $270.36, respectively. Trading volume was below the average volumes on Monday.

Meanwhile, MSTR stock has received a buy rating from investment bank Canaccord Genuity. The bank analyst raised its price target to $474. This follows Strategy’s strong Q3 2025 results, with $2.8 billion in net income and $3.9 billion in unrealized gains from its Bitcoin holdings.

Strategy’s Unrealized Gains Slip Under $20 Billion

As CoinGape reported, Strategy acquired an additional 397 BTC for $45.6 million at an average price of $114,771 per Bitcoin. With the latest purchase, Strategy expanded its Bitcoin holdings to 641,205 BTC.

Michael Saylor said the firm has acquired the total BTC for $47.49 billion, achieving a BTC yield of 26.1% YTD. At the time of writing, Bitcoin Net Asset Value (NAV) is $68.06 billion, making the unrealized gains drop under $20 billion.

Michael Saylor’s Strategy was sitting at unrealized gains of $30 billion a few months ago. The repeated Bitcoin price crash to $105K has caused investors to lose confidence in Bitcoin treasuries, with BTC accumulation slowing.

BTC price is exchanging hands at $104,530, down more than 3% in the past 24 hours. The 24-hour low and high are $104,178 and $108,286, respectively.