MicroStrategy has decided to increase the authorized number of shares to support the purchase of Bitcoin.
According to BlockBeats, on January 21, shareholders of MicroStrategy approved two amendments on Monday, allowing the company to increase the number of authorized shares to support its plan to purchase more Bitcoin.
Last October, the company announced plans to offer $21 billion in equity and $21 billion in fixed-income securities to support this Bitcoin treasury reserve strategy—an initiative referred to as the "21/21 Plan." As of January 20, the company stated that approximately $5.42 billion in stock remained available for sale as part of its plan, aiming to raise a total of $42 billion for Bitcoin acquisitions.
On Tuesday, shareholders voted in favor of increasing the number of authorized Class A common shares and preferred shares. Earlier that day, MicroStrategy announced that it purchased an additional 11,000 Bitcoins at a price of approximately $1.10 billion, with an average price of $101,191 per Bitcoin. This business intelligence company currently holds 461,000 Bitcoins, worth over $48 billion.
MicroStrategy has decided to increase the authorized number of shares to support the purchase of Bitcoin.
According to BlockBeats, on January 21, shareholders of MicroStrategy approved two amendments on Monday, allowing the company to increase the number of authorized shares to support its plan to purchase more Bitcoin.
Last October, the company announced plans to offer $21 billion in equity and $21 billion in fixed-income securities to support this Bitcoin treasury reserve strategy—an initiative referred to as the "21/21 Plan." As of January 20, the company stated that approximately $5.42 billion in stock remained available for sale as part of its plan, aiming to raise a total of $42 billion for Bitcoin acquisitions.
On Tuesday, shareholders voted in favor of increasing the number of authorized Class A common shares and preferred shares. Earlier that day, MicroStrategy announced that it purchased an additional 11,000 Bitcoins at a price of approximately $1.10 billion, with an average price of $101,191 per Bitcoin. This business intelligence company currently holds 461,000 Bitcoins, worth over $48 billion.
