The post Just In: MicroStrategy Shareholders Approve Share Increase for $42B Bitcoin Strategy appeared first on Coinpedia Fintech News
In an exciting development, the Microstrategy shareholders have approved an increase in the number of authorized shares, paving the way for the company to expand its Bitcoin holdings further. The shareholders have approved a plan to increase the company’s share supply, raising 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 treasury plan.
On Tuesday, shareholders voted in favor of both increasing the number of authorized Class A common stock and preferred stock. Notably, Last October, MicroStrategy announced its “21/21 plan,” aiming to raise $21 billion in equity and $21 billion in fixed-income securities to support its Bitcoin treasury strategy. As of January 20, about $5.42 billion in shares remain available for sale, part of the company’s goal to raise $42 billion for Bitcoin acquisitions.
Earlier today, MicroStrategy increased its bitcoin holdings for the eleventh consecutive week, purchasing 11,000 BTC for $1.1 billion. Its Total bitcoin holdings are now at 461,000 tokens.