Strategy, formerly known as MicroStrategy, may soon sell $21 billion in preferred stock to buy more Bitcoin, according to a Monday filing.
The firm said in a Securities and Exchange Commission filing that it has now entered into a sales agreement with a dozen financial institutions that will be able to issue its “STRK” offering.
The company held $40 billion worth of Bitcoin when it first introduced STRK in January. At the time, the firm said it was targeting a $2 billion capital raise using preferred stock, which features an 8% cumulative dividend that’s payable in either cash or Class A shares.