MicroStrategy, a business intelligence firm that has turned to a #Bitcoin proxy company, announces plans to raise more capital to expand its Bitcoin bag.

It is a new year, but the same old MicroStrategy. The largest corporate holder of Bitcoin has wasted no time in pursuing its insatiable ploy of holding more of the pioneering cryptocurrency.

In an announcement on Friday, January 3, the software firm stated it plans to raise $2 billion to buy more Bitcoin. Again, MicroStrategy will leverage a debt instrument to raise the funds, offering preferred stocks to interested investors.

MicroStrategy to Raise $2B to Buy More Bitcoin

MicroStrategy’s latest move aligns with its plan to raise $21 billion through equity sales and $21 billion of fixed-income instruments in the next three years to buy more Bitcoin. The Michael Saylor-co-founded firm introduced the initiative, fondly termed the “21/21 plan,” in October and has raised over $7.5 billion through the means.

The proposed $2 billion preferred stock issuance will take precedence over the company’s class A common stock. It will feature provisions including convertibility into class A shares, the payment of cash dividends, and the option for share redemption.

Nonetheless, MicroStrategy has not determined the price or other details of the offering. Furthermore, the software firm reserves the right to discontinue the offering but will execute it, if at all, in the first quarter of the year.

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