MicroStrategy issues $2.1B in preferred stock, funding Bitcoin purchases

MicroStrategy Incorporated announced the issuance of $2.1 billion in fixed-rate, perpetual preferred stock.

The company will use the capital to fund continued Bitcoin purchases.

These non-convertible shares allow for asset acquisition without immediate dilution of common shareholders.

The issuance adds a significant fixed payment obligation to the company's capital structure.

This move is part of a recently announced $44.1 billion capital-raising program.