MicroStrategy has significantly increased its preferred stock issuance from $250 million to a whopping $584 million under the symbol STRK. The move by the Nasdaq-listed firm involves the sale of 7.3 million shares priced at $80 each with a goal of netting $563.4 million in financing. This strategic adjustment reflects a bullish stance on Bitcoin as the company aims to bolster its cryptocurrency reserves.

Series A perpetual preferred stock now carries a liquidation price of $100 per share offering an 8% annual dividend. This can be paid in cash or converted to common stock which stands as a robust incentive for investors. The conversion rate is set ambitiously at $1,000 per share showcasing a firm commitment to future growth and stability in the cryptocurrency sector.

Set to finalize by February 5 2025 the issuance has the backing of major financial players including Barclays and Moelis & Company. Currently MicroStrategy holds about 190000 Bitcoins and this new capital infusion is targeted towards expanding these holdings further solidifying its position as a major player in the cryptocurrency investment sphere.

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