MicroStrategy Inc. bought $1.1 billion of Bitcoin, as the company gears up for a shareholder vote on a 30 times increase its authorized Class A shares.

MicroStrategy shareholders approved an increase in Class A common shares. Authorized preferred stock shares will also rise. The proposals passed with 56% approval, bolstered by

Key Takeaways MicroStrategy has purchased another $1.1 billion worth of bitcoin for its treasury, which brings its total holdings to 461,000 bitcoin.This is the eleventh week in a row MicroStrategy has announced a bitcoin purchase.

MicroStrategy Inc. shareholders voted for a 30 times increase to the number of authorized Class A common shares to help finance the company’s Bitcoin buying.

MicroStrategy, led by Michael Saylor, has announced its latest Bitcoin purchase, marking its third acquisition of the year.

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 the week ending Jan 19, the company purchased 11,000 BTC for $1.1 billion, taking its total holdings to 461,000 BTC. This latest bitcoin average purchase price was $101,191, increasing MicroStrategy's overall average purchase price to $63,610.

MicroStrategy shareholders approves major increase in the company’s authorized shares, expanding from 330M to 10.3B for BTC acquisitions.

MicroStrategy shareholders approve a 30-fold increase in Class A shares to support Bitcoin acquisitions, boosting its crypto reserves.

Business analytics firm MicroStrategy Inc. (NASDAQ:MSTR) on Tuesday announced it has expanded its Bitcoin (CRY

Shareholders of MicroStrategy (MSTR) gave the company the go-ahead to boost its number of authorized class A common shares by 30-fold to finance purchases of bitcoin.