Strategy Seeks $42 Billion to Accelerate Bitcoin Buying

Michael Saylor’s Strategy Inc. is accelerating its Bitcoin accumulation plan, outlining a $42 billion capital raise that would deepen its all-in wager on the cryptocurrency.

The company plans to sell $21 billion in Class A common stock and $21 billion in perpetual preferred shares by steadily offering them on the open market, according to a regulatory filing Monday. Strategy has said it wants to rely more on its “Stretch” preferred shares to fund purchases, a shift that spares existing stockholders from dilution but saddles the company with fresh payout obligations.