Europe’s Corporate Bitcoin Treasury Strategy Set to Develop Its Own Model

Michael Saylor-led Strategy has become the model for corporate Bitcoin treasury strategies in the United States by continuously issuing shares and convertible bonds to fund purchases. Europe, however, has shallower capital markets, tighter rules governing financial instrument issuance and different investor behavior. Thomas Vogel, a partner at Latham & Watkins, therefore believes European companies will struggle to replicate the U.S. financing model.

An April 16 report said Capital B executives told Paris Blockchain Week 2026 that European companies were raising funds through France’s public markets and Luxembourg-based structures. Capital B held 2,925 Bitcoin at the time, acquired at an average cost of $99,932. Strategy, meanwhile, said on April 13 that it had spent about $1 billion to buy 13,927 Bitcoin in one week, bringing its total holdings to 780,897.