Wu said that MicroStrategy announced plans to raise up to $2 billion in perpetual preferred stock through a public offering. The preferred stock may have features such as convertibility into Class A common stock, cash dividends, and redemption provisions. This fundraising is part of the company's '21/21 Plan', aimed at strengthening the balance sheet and further increasing its Bitcoin holdings. The issuance is expected to take place in the first quarter of 2025, but whether it will proceed and the final terms will depend on market conditions and other factors, and the company may not pursue this issuance.