Wu said that Strategy (formerly MicroStrategy) submitted a supplement to its prospectus on May 22, 2025, indicating that the company plans to issue up to $2.1 billion of 10.00% Series A Perpetual Preferred Stock (Perpetual Strife Preferred Stock, code: STRF) through an 'At The Market' (ATM) offering. The document discloses that this issuance is a further increase of the existing 850,000 shares of perpetual preferred stock, aimed at raising funds through equity and debt financing to continue executing its Bitcoin strategy.