Strategy Inc. MSTR, announced on Monday that it has filed to offer up to $21 billion in preferred stock to raise funds for Bitcoin BTC/USD purchases.

What Happened: The sales agreement involves issuing 8.00% Series A perpetual strike preferred stock STRK with a par value of $0.001 per share, which holders can convert into Strategy’s class A common stock.

The proceeds will primarily support Bitcoin acquisitions, with additional funds allocated for working capital and general corporate purposes.

The offering, structured as an at-the-market (ATM) program, allows Strategy to sell shares over time based on market conditions, such as trading prices and volumes.

The company filed a…

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