MicroStrategy plans to raise up to $2 billion through the issuance of preferred shares to advance its "21/21" plan to sell $42 billion worth of stocks and fixed-income securities, Golden Finance reported. By moving to a perpetual preferred stock strategy, MicroStrategy could attract institutional investors such as insurance companies, pension funds and banks, said Benchmark equity analyst Mark Palmer. These entities typically favor assets with fixed dividends and relatively low volatility. Unlike bonds, perpetual preferred stocks have no maturity date or mandatory redemption schedule and instead pay fixed dividends indefinitely as long as the issuing company remains in business. . Benchmark reiterated its "buy" rating on MicroStrategy stock and maintained its $650 price target.