MicroStrategy, the largest corporate holder of Bitcoin, announced plans to raise up to $2 billion through a preferred stock offering. The proceeds from the offering will be used to strengthen the company's balance sheet and acquire more Bitcoin. The offering is expected to close in the first quarter of 2025. This move is part of MicroStrategy's "21/21 plan," announced in 2021, under which the company aims to raise $2.1 billion in additional capital and debt over the next three years. The additional capital will be used to buy Bitcoin. MicroStrategy has been a vocal supporter of Bitcoin and has made several large purchases of the cryptocurrency in the past. The company believes that Bitcoin is a valuable asset that will continue to appreciate in value over time. The company's latest preferred stock offering is a sign of its continued commitment to Bitcoin and its belief in the cryptocurrency's long-term potential.

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