Strategy, the world’s largest corporate Bitcoin holder, flops in Europe… “limits of accessibility and market structure”

Strategy, the company holding the most Bitcoin (BTC) in the world, launched a high-dividend preferred stock aimed at the European market but appears to have failed to win over investors.

On the 24th (Korea time), crypto-focused outlet CoinDesk reported that nearly two months after Strategy launched its perpetual preferred stock Stream (STRE) in Europe, it has yet to post any meaningful results. It also noted that even on Strategy’s official website, it is difficult to find separate guidance or related information on STRE.

STRE is a product Strategy introduced in November for the European Economic Area (EEA), structured to pay an annual dividend of 10%. The par value was initially set to be issued at 100 euros, but it was lowered to 80 euros to reflect market conditions and demand, and trading began after raising a total of $715 million.

The weak demand is attributed to limited accessibility and insufficient market infrastructure. Kean Oy’s chief executive officer (CEO) said, “Stream is listed on the Luxembourg Euro MTF, but trading is not supported on major global brokerage platforms,” adding, “This significantly reduces investor access.” He also said, “With insufficient information provided on price, liquidity and other factors, it appears to be failing to generate strong demand from investors.”