Strategy announced that it would issue 5 million additional shares of preferred stock to raise funds, which it plans to use to increase its holdings of Bitcoin

PANews reported on March 18 that according to SEC documents, Strategy Inc (formerly MicroStrategy) announced that it will issue an additional 5 million shares of Series A Perpetual Strife Preferred Stock to raise funds to continue its Bitcoin reserve strategy. The preferred stock accumulates a fixed dividend of 10% per year, paid quarterly, and unpaid dividends will be calculated at compound interest, up to 18%. In addition, MicroStrategy has the right to redeem the preferred stock under certain conditions, and holders can also request the company to repurchase it in the event of a "significant change" event.

The offering will be jointly book-run by Morgan Stanley, Barclays, Citigroup and Moelis & Company, and is a public offering that has been filed with the SEC. The initial liquidation preference for the stock is set at $100 per share and may be adjusted based on market conditions.