Speaking at the Benchmark investor conference in Orlando, Michael Saylor, co-founder and executive chairperson of MicroStrategy, said the company's possible issuance of perpetual preference shares would be "the latest means to provide investors with leveraged exposure to Bitcoin", noting that the company aims to provide investors with "returns and volatility equivalent to 1.5 times Bitcoin". MicroStrategy recently expanded its bond offering by entering the perpetual preference share market. The company plans to raise up to $2 billion this quarter by issuing preference shares, advancing its "21/21" program of selling $42 billion worth of shares and fixed income securities, which the company will attempt to raise through one or more public underwriting of perpetual preference shares that will have a higher priority than MicroStrategy's Class A common stock. The perpetual preference shares have no maturity date or mandatory redemption schedule, but instead pay fixed dividends indefinitely while the distribution company remains in operation.