MicroStrategy is targeting a capital raise of up to $2 billion to continue to strengthen its balance sheet and acquire more Bitcoin, the business software company announced. The capital raise will be through one or more public underwritten offerings of perpetual preferred stock,

MicroStrategy's share price has faced a prolonged plunge, falling 45% from its November peak as the firm's Bitcoin buys get smaller.

MicroStrategy (NASDAQ: MSTR) and KULR Technology (NYSEMKT: KULR) both recently generated a lot of buzz with their big investments in Bitcoin (CRYPTO: BTC). Microstrategy, which started buying Bitcoin in 2020,

MicroStrategy, the largest corporate Bitcoin holder, has announced plans to raise another $2 billion through a perpetual preferred stock offering.

Shares of cryptocurrency-focused companies like Coinbase and MicroStrategy jumped Thursday morning ahead of the first trading session of the new year as Bitcoin also rose.

MicroStrategy Inc. said it bought $209 million of Bitcoin, marking the eighth consecutive week of purchases for the dot-com-era software maker turned leveraged proxy for the original cryptocurrency.

MicroStrategy bought about $209 million of bitcoin in the past week, making it eight weeks in a row that the company has acquired more of the digital currency.

MicroStrategy plans to raise $2 billion from a perpetual preferred stock offering to purchase extra Bitcoin for the company.

Shares of software company MicroStrategy ($MSTR) climbed to $339.66 on Friday following its recent plunge. The rally came after the company