According to reports from Wu, MicroStrategy announced plans to issue up to $2 billion in perpetual preferred stock through a public offering.

The preferred stock may have characteristics such as being convertible into Class A common stock, paying cash dividends, and having redemption provisions.

This fundraising is part of the company's '21/21 Plan', aimed at strengthening the balance sheet and further increasing 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; the company may not pursue this issuance.