MicroStrategy shareholders approve stock increase to fund Bitcoin buying spree

Key Takeaways

• MicroStrategy shareholders approved the increase in authorized shares to fund Bitcoin acquisitions.
• The company now holds over $48 billion in Bitcoin, representing more than 2% of the total supply, as it ramps up purchases.

MicroStrategy shareholders approved an increase in authorized Class A common shares from 330 million to 10.3 billion, supporting the company’s Bitcoin acquisition strategy.

The measure passed with 56% approval on Tuesday, enabling the company to potentially exceed the shares outstanding of all but four of the largest Nasdaq 100 companies: Nvidia, Apple, Alphabet, and Amazon.

The company also increased its authorized preferred stock from 5 million to 1 billion shares. Both amendments will take effect after filing with Delaware’s secretary of state.

MicroStrategy aims to raise $42 billion by 2027 through equity and convertible note offerings to fund its Bitcoin treasury strategy.

As of January 20, $5.4 billion worth of shares remain available for sale under the company’s “21/21 plan.”

The company announced Tuesday it purchased 11,000 BTC for $1.1 billion at an average price of $101,191 per Bitcoin.

This acquisition increased its total holdings to 461,000 BTC, valued at over $48 billion, representing more than 2% of Bitcoin’s total supply.

MicroStrategy shares are currently down 1.8% on Tuesday, while Bitcoin is trading up 1% since early Tuesday hours, priced at $105,200.

Michael Saylor attended the Crypto Ball in Washington ahead of Trump’s inauguration, meeting with key officials and members of the Trump family.

While Trump has not issued executive orders directly affecting crypto, Saylor and others expect a more favorable regulatory environment for the industry.