#CryptoReboundStrategy MicroStrategy expands its '21/21 plan'.
MicroStrategy expands its '21/21 plan' with an offering of preferred stock for 2 billion dollars for bitcoin purchases.
MicroStrategy seeks to raise up to 2 billion dollars through the sale of preferred stock, which expands its previously announced plan to sell 42 billion dollars in equity and fixed income securities.
This latest offering is expected to take place in the first quarter of 2025.
MicroStrategy, the software company turned leveraged bitcoin trading vehicle, seeks to raise up to 2 billion dollars through the sale of preferred stock to advance its previously announced plan to raise 42 billion dollars in capital to finance bitcoin purchases over a three-year period.
According to an announcement made on Friday, the company will attempt to raise up to 2 billion dollars through one or more public offerings of perpetual preferred stock. These shares will have priority over MicroStrategy's Class A common stock.
MicroStrategy, the business intelligence company founded by former CEO Michael Saylor, is by far the largest corporate holder of bitcoins since it began buying the cryptocurrency during the bull market of the pandemic era. It currently holds over 145,000 BTC, valued at around 14 billion dollars at current prices.
In recent years, MicroStrategy has continued its bitcoin buying strategy through stock and debt offerings. In November, for example, it made a debt offering of 3 billion dollars to buy bitcoins.
In October, MicroStrategy announced its plans to offer 21 billion dollars in stock and 21 billion dollars in fixed income securities to support this bitcoin treasury reserve strategy, a measure referred to as its '21/21 plan'. As of December 15
