Benchmark maintains a buy rating on MSTR with a target price of $650
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According to CoinDesk, MicroStrategy plans to raise funds through the issuance of $2 billion in perpetual preferred stock, with specific terms expected to be announced in the first quarter of 2025. Permanent preferred stock has no fixed maturity date, and shareholders can receive fixed dividends but no voting rights. Benchmark maintains a buy rating on MSTR with a target price of $650. As of now, MicroStrategy holds 450000 bitcoins. The company expects to vote at the special shareholders' meeting on January 21st to increase the authorized number of preferred and common shares.