Group 1 - The core viewpoint of the article highlights the significant increase in the issuance scale of the new preferred stock "Stretch" by MicroStrategy (MSTR.US) from an initial plan of $500 million to $2.8 billion, reflecting the growing interest in the cryptocurrency market [1] - The "Stretch" preferred stock offers investors an annual dividend of up to 9% with no maturity date, which is rare in the preferred stock issuance space [1] - MicroStrategy has accumulated approximately 600,000 bitcoins, valued at around $70 billion, showcasing its strategy of raising capital to acquire more bitcoins [1][2] Group 2 - The "Stretch" preferred stock has a higher repayment priority than common stock and other series of preferred stocks but is subordinate to convertible bonds [2] - Unlike previous products, "Stretch" allows the company to dynamically adjust dividends based on stock price fluctuations, aiming to stabilize the stock price around a $100 benchmark [2] - The issuance was priced at a discount of $90 per share, reflecting the market's speculative enthusiasm despite the complex capital structure of the company [2]