Michael Saylor’s investment firm, Strategy, has committed $45 million to Bitcoin and plans a new equity offering to fuel further purchases. The company revealed its recent acquisition of 397 Bitcoin last week at an average price of $114,771, bringing their total holdings to 641,205 BTC worth approximately $66.7 billion as of November 2nd, 2025. This investment marks a significant step in the firm’s strategy of building a Bitcoin-focused portfolio, with the company’s founder already pioneering the digital asset treasury (DAT) model which has since been adopted by numerous companies. To fund further investments and corporate needs, Strategy will launch an offering of 3.5 million euro-denominated preferred shares (STRE), known as “Stream.” The offering is subject to market conditions but aims to raise funds for future Bitcoin purchases. Each STRE share carries a €100 face value and a 10% annual dividend, payable quarterly from late 2025 if declared. Missed payments accrue extra interest which rises by one percentage point annually until paid. To manage potential dividend payment delays, Strategy also has procedures in place to raise funds for investors within 60 days through additional stock sales or other means. The company can further choose to buy back or redeem all STRE shares, subject to specific conditions like the remaining share outstanding percentages and potential tax-related events. This new equity offering is part of a wider strategy that has already seen Strategy acquire Bitcoin since 2020. The firm’s investment activity has been evolving, with recent purchases being significantly lower than previous months. Notably, Strategy’s stock price has experienced considerable decline this week, dropping more than 10% and falling over 28% in the last month, according to Google Finance.