Odaily Planet Daily News MicroStrategy Inc. has hired banks to help it raise $42 billion through the sale of new stocks and fixed income to buy more Bitcoin. The company has engaged a few banks to sell stocks at market price, which could bring in a net income of $21 billion, while also arranging for the possible sale of fixed income securities, which could also generate the same amount of revenue. Over the past year, the company has raised billions by selling convertible preferred notes and has had its bankers sell stocks in the market to increase its Bitcoin reserves. While such plans allow MicroStrategy to sell up to $21 billion in stock without submitting additional paperwork, it does not guarantee that the company will do so, or that even if it does, it will raise all the funds at once. MicroStrategy stated in a press release on Wednesday that the company raised $2.1 billion in the third quarter through equity and debt sales, while it raised $800 million in the three months ending June 30. Sean McNulty, trading director at liquidity provider Arbelos Markets, said, 'We believe $42 billion is an ambitious target but not unattainable. Ultimately, if Bitcoin prices rise, it will be beneficial for them.' The $21 billion market cap plan exceeds the company's recent issuance volume. An at-the-market plan allows the company's investment banks to create stocks and sell them at market price, adding the proceeds to its balance sheet. (Bloomberg) Earlier today, MicroStrategy proposed the '21/21 Plan', which aims to conduct $21 billion in equity financing and $21 billion in bond issuance over the next three years, using additional capital to purchase more BTC as a financial reserve asset to achieve higher BTC returns.

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