Michael Saylor’s company, Strategy, is taking its Bitcoin playbook to Europe. The firm announced plans to launch a euro-denominated stock offering, marking another aggressive step in its long-running mission to accumulate as much Bitcoin as possible.

On Monday, Strategy filed for the issuance of 3.5 million perpetual shares under the ticker STRE, targeting qualified investors across the European Union and the United Kingdom.

A Euro-Based Offering to Fuel Bitcoin Purchases

The purpose of the new share offering is straightforward:
Raise euros → Buy more Bitcoin → Support operations.

The perpetual shares come with a 10% annual cumulative dividend on a face value of €100, paid out quarterly starting December 31.

The offering is strictly limited to qualified EU and UK investors—not retail buyers. Strategy continues to position itself as the dominant Bitcoin-focused public company, now holding 641,205 BTC, acquired at a combined cost of roughly $47.49 billion.

Earlier in November, the company added another 397 BTC, staying true to the accumulation strategy it has followed since mid-2020. Saylor’s key model remains consistent: issue equity and debt → use the capital to expand its Bitcoin treasury.

A Model That Sparked an Industry Trend

Strategy’s blueprint has inspired a wave of imitators—firms that have raised billions to build their own crypto treasuries. Despite this rising competition, Saylor reaffirmed that the company has no intention of pursuing mergers or acquisitions, even when they appear financially attractive.

Instead, he emphasized that Strategy remains committed to its core approach:
sell digital credit, raise capital, and systematically buy Bitcoin.

Some analysts, however, are cautious. As more crypto treasury firms emerge, they warn that consolidation may eventually be necessary for long-term sector stability.

Major Financial Institutions Back the Offering

Big-name financial players are involved in running Strategy’s European share sale, including:

• Barclays
• Morgan Stanley
• Moelis
• TD Securities

The STRE share issuance represents Strategy’s latest attempt to diversify its capital-raising channels beyond traditional U.S. dollar–denominated securities.

And with Bitcoin currently trading above $104,000, the company’s holdings now reflect massive unrealized profits compared to its average purchase price.

A Company Redefining Corporate Crypto Strategy

Strategy continues to reshape how companies think about treasury management and capital allocation in the digital age. Its move into Europe reinforces its determination to access new capital markets—and convert that capital into even more Bitcoin.

If you’re a MERL holder or an active trader on Bithumb, here’s an important update you don’t want to miss.
South Korea’s top crypto exchange, Bithumb, has paused all MERL deposits and withdrawals as of 4:55 a.m. UTC today. This temporary suspension is part of a planned network upgrade for Merlin Chain, and while it may disrupt activity in the short term, it’s ultimately geared toward strengthening the ecosystem.

Why Did Bithumb Pause MERL Activity?

This suspension is directly tied to Merlin Chain’s ongoing network upgrade—a critical step that enhances the blockchain’s performance, security, and overall functionality.

Pausing deposits and withdrawals during upgrades helps ensure:

• A smooth and error-free transition
• Protection of user funds
• Prevention of failed or stuck transactions
• Proper integration of new features and improvements

In other words, this is Bithumb making sure everything updates safely and cleanly.

How Does This Affect MERL Users on Bithumb?

Here’s what the temporary suspension means for you:

• Deposits: Not allowed during the upgrade
• Withdrawals: Also unavailable until the upgrade is complete
• Trading: Still fully functional—you can trade MERL as usual
• Your MERL Holdings: Safe and unaffected in your Bithumb wallet

So while you can’t move tokens in or out, you can continue trading them on the exchange without any interruptions.

When Will MERL Services Return to Normal?

Bithumb hasn’t shared an exact completion time yet. Network upgrades can take anywhere from a few hours to a few days, depending on the complexity.

To stay updated, keep an eye on Bithumb’s:

• Official website
• Social media channels
• Email alerts
• Mobile app notifications

They’ll announce the moment the upgrade—and the suspension—has officially wrapped up.

Why Network Upgrades Are Good News for MERL Holders

Although temporary service pauses can be inconvenient, they typically lead to meaningful improvements. This upgrade is expected to boost:

• Transaction speed and efficiency
• Security against exploits and vulnerabilities
• Scalability for future growth
• Overall functionality and ecosystem reliability

Long-term, these upgrades are designed to make MERL stronger, more secure, and more capable of handling increased demand.

Tips for MERL Traders During the Suspension

While deposits and withdrawals are on hold, traders can still make the most of this time:

• Keep an eye on MERL price movements
• Plan your next trades in advance
• Read up on what this network upgrade includes
• Adjust your trading strategies if needed
• Watch for the official announcement on service resumption

This pause highlights Bithumb’s commitment to secure, reliable operations—and shows strong coordination between the exchange and the Merlin Chain development team.

Frequently Asked Questions

How long will the suspension last?
No exact timeline yet. Upgrades usually take several hours to several days. Bithumb will announce when everything is back online.

Can I still trade MERL?
Yes. Trading is unaffected—only deposits and withdrawals are paused.

Are my MERL tokens safe?
Absolutely. Your tokens remain securely in your Bithumb wallet throughout the suspension.

Why do exchanges pause services during upgrades?
To prevent errors, protect user funds, and ensure the network upgrade integrates smoothly.

Will this affect MERL’s price?
Short-term fluctuations are possible, but upgrades often support long-term value by improving the network.

How will I know when services resume?
Keep an eye on Bithumb’s announcements via their website, social media, app notifications, and email.

Solana is showing its first real signs of a rebound as it retests a major downtrend that has held the price down since late October. If the current momentum continues, analysts say SOL could climb into the $170+ recovery zone—a potential 25% bounce from current levels.
At the time of writing, Solana trades around $137.

SOL Retests the Trendline as a Recovery Pattern Forms

On the 2-hour chart, Solana has been moving in a clear downward structure, forming consistent lower highs and lower lows throughout late November. After hitting a mid-November bottom, the price began pushing upward toward the descending trendline.

This time, the test is different:

• SOL is printing higher lows,
  
• upward momentum is steady,
  
• and price remains securely above recent support levels.
  

Analyst Captain Faibik notes that Solana’s recovery zone sits just above $170. His chart shows a clean potential move from the $135 area into this zone—roughly a 25% rally if the structure holds. The market continues to trade above its recovery base with each swing showing clear technical rhythm.

Another analyst, Daan Crypto Trades, points out that Solana is sitting right on high-timeframe support.
He adds:

“If it can get back above $145, the next target is $155.”

His chart highlights a strong support zone around $130, where buyers previously stepped in. The visible range data also shows heavy market activity between $140 and $165, suggesting SOL is entering a zone that historically attracts attention.

ETF Inflows Strengthen the Bullish Case

Solana’s ETF landscape is also helping support the price.
Spot Solana ETFs saw $58 million in inflows on November 24, marking 20 straight days of gains—the longest streak for any major crypto ETF in 2025. Total inflows now sit at $568 million since the ETFs launched in late October, according to SoSoValue.

Bitwise led the recent push with $39.5 million added, while Franklin Templeton expanded its crypto index fund to include Solana. An SEC filing confirmed the update, which takes effect on December 1, 2025.

The trend continued on November 25, with another $53.08 million in ETF inflows.

Outlook: A +25% Recovery Still in Play

SOL remains above key support levels as it moves toward the $155 resistance area, which analysts see as the next major hurdle. With strong ETF inflows, supportive technical structure, and improving market sentiment, the setup for a move toward $170 and beyond remains intact.