According to an official announcement by MicroStrategy, MicroStrategy has announced plans to raise up to $2 billion through the issuance of preferred shares. This move is part of its "21/21 Plan", which aims to raise $42 billion (equity and fixed income each accounting for $21 billion) within three years.
The purpose of this issuance is for MicroStrategy to continue strengthening its balance sheet and acquire more Bitcoin. The issuance is expected to take place in the first quarter of 2025. The announcement states that the decision whether or not to proceed with and complete the issuance will be made by MicroStrategy itself, subject to market conditions and other factors. MicroStrategy may choose not to proceed or complete the issuance.