#BitcoinHashRateSurge MicroStrategy is planning to raise up to $2 billion by issuing preferred stock, advancing its ambitious “21/21” plan to sell $42 billion in equity and fixed-income securities. The software company has leveraged its issuance of convertible bonds to capitalize on share price volatility, benefiting from a stock that soared 500% last year.

MicroStrategy has tapped into the demand among convertible bond investors for higher implied volatility, a feature that Benchmark analysts say enhances the appeal of the equity conversion option embedded in these bonds.