MicroStrategy Shareholders Clear the Way for Even More Bitcoin Buys
The post MicroStrategy Shareholders Clear the Way for Even More Bitcoin Buys appeared on BitcoinEthereumNews.com.
Bitcoin treasury company MicroStrategy is so keen to buy its favorite asset that it has a new strategy: Increasing the amount of stock it has to sell to help finance the crypto purchases. The software company’s shareholders voted for a 30x increase to the number of authorized Class A common shares, Bloomberg reported, citing a recording of the meeting. The idea is that the company will have more resources to buy the cryptocurrency. MicroStrategy has acquired 11,000 BTC for ~$1.1 billion at ~$101,191 per bitcoin and has achieved BTC Yield of 1.69% YTD 2025. As of 1/20/2025, we hodl 461,000 $BTC acquired for ~$29.3 billion at ~$63,610 per bitcoin. $MSTR https://t.co/SOgvMscghy — Michael Saylor⚡️ (@saylor) January 21, 2025 MicroStrategy—which almost exclusively focuses on securitizing Bitcoin—last year announced a “21/21 Plan” to raise $46 billion to buy even more Bitcoin. The plan would see the firm raise $21 billion via equity, with another $21 billion coming by selling fixed income securities. In Tuesday’s vote, shareholders voted to increase the company’s Class A shares from 330 million to 10.3 billion. Company founder and chairman Michael Saylor kicked off MicroStategy’s Bitcoin buying master plan in 2020, with a $250 million investment in the cryptocurrency. Since then, the company hasn’t stopped buying the asset, with its strategy accelerating last year. As of today, the MicroStrategy owns 461,000 Bitcoin—worth over $49 billion—after announcing its latest Bitcoin buy. Saylor claims that buying Bitcoin and holding it for the long-term is a way to get better returns for company shareholders and fight inevitable inflation, and has referred to the asset as “digital gold.” And it’s apparently working: The company’s stock is up over 3,000% since the company announced its plan. The company in December joined the Nasdaq-100, an index of the top 100 non-financial companies on the…
Filed under: News - @ January 22, 2025 3:25 am