MicroStrategy Shareholders Approve Share Increase for $42B Bitcoin Strategy
Excitingly, Microstrategy shareholders have approved an increase in the number of authorized shares, paving the way for the company to further expand its Bitcoin holdings. Shareholders have approved plans to increase the company’s share supply, increasing the total number of MSTR shares from 330 million to 10.3 billion. This increase will help support the company’s strategy of acquiring more Bitcoin as part of its long-term financial plan.
On Tuesday, shareholders voted in favor of increasing the number of authorized Class A common and preferred shares. Notably, in October last year, MicroStrategy announced its “Plan 21/21,” which aimed to raise $21 billion in equity and $21 billion in fixed-income securities to support its Bitcoin Vault strategy. As of January 20, approximately $5.42 billion in shares remained available for sale, part of the company’s goal of raising $42 billion for Bitcoin acquisitions.
Earlier today, MicroStrategy increased its holdings of Bitcoin for the eleventh consecutive week, purchasing 11,000 Bitcoins for $1.1 billion. Its current total Bitcoin holdings are 461,000 tokens.
