MicroStrategy, a software company with significant investments in bitcoin, is raising $2 billion through a preferred stock offering. This marks the eighth consecutive week the company has issued new shares to fund its growing cryptocurrency holdings.
The planned perpetual preferred stock sale will provide MicroStrategy with the necessary funds to acquire more bitcoin. If conducted as planned, the offering would take place during the first quarter of this year. The specifics of the sale, including the timing and method of issuance, have not been confirmed yet.
This latest capital raise follows MicroStrategy’s efforts to expand its bitcoin holdings, which are seen as a strategic asset for the company. As a result, MicroStrategy has positioned itself as a major player in the rapidly growing cryptocurrency market.
As part of this fundraising effort, MicroStrategy plans to issue perpetual preferred stock in one or more public underwritten offerings. The exact terms and details of the sale will be disclosed at a later date.
Source: https://www.marketwatch.com/story