MicroStrategy (MSTR), which recently changed its name to “Strategy,” has launched itsnew convertible preferred stock on the Nasdaq stock

The company announced in its last earnings report a plan to raise $42 billion to buy bitcoin in three years. It’s already spent nearly half of that.

Valued at a market cap of $80.7 billion, MicroStrategy (MSTR) provides enterprise software solutions. However, the tech company is also the largest institutional holder of Bitcoin (BTCUSD), which means the performance of MSTR stock is tied to BTC prices.