Target: $42 Billion in Bitcoin Purchases

Currently holding 450,000 Bitcoin, MicroStrategy maintains its leadership in this space. As part of the new plan, the company aims to increase its common shares from 330 million to 10.3 billion and its preferred shares from 5 million to 1 billion.

This plan was officially disclosed in a filing to the U.S. Securities and Exchange Commission (SEC). The proposed share increase is intended to support the company’s $42 billion Bitcoin acquisition target. Shareholder voting on the proposal is expected in early 2025, although a specific date has yet to be announced.

Another notable aspect of the plan includes automatic share award incentives for newly appointed board members. Last week, the number of board members was increased from 6 to 9. New members include former Binance CEO Brian Brooks, Galaxy Digital board member Jane Dietze, and Gregg Winiarski.

Bitcoin Purchases Continue

Since 2020, the company has consistently acquired Bitcoin. Just yesterday, it announced the purchase of 5,262 Bitcoin, bringing its total holdings to 444,000 Bitcoin. Additionally, MicroStrategy achieved a significant milestone by being included in the Nasdaq 100 index for the first time yesterday.

MicroStrategy’s new move is closely watched by both investors and the cryptocurrency world. The outcome of shareholder voting could mark a pivotal moment in the company’s Bitcoin strategy.

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New Board Members

Brian Brooks

A well-known figure in the cryptocurrency sector, Brian Brooks is among the new board members. His background includes:

• Serving as the CEO of Binance.US from May 2021 to August 2021
• Working as Chief Legal Officer at Coinbase from September 2018 to March 2020
• Acting as Comptroller of the Currency from April 2020 to January 2021, overseeing banks’ digital asset-related activities
• Leading Bitfury, a Bitcoin mining company, as CEO from October 2021 to December 2022

Brooks brings extensive regulatory and operational experience to the board, offering valuable insights and contributions.

Jane Dietze

Jane Dietze brings broad investment expertise to the board. Since July 2018, she has served as the Chief Investment Officer at Brown University, managing the Ivy League institution’s $7.2 billion endowment. Additionally, she has been a board member of Galaxy Digital, a digital asset company founded by Mike Novogratz, since February 2022.

Gregg Winiarski

Gregg Winiarski is another new addition to the board. Since February 2023, he has been the Chief Legal Officer at Fanatics, a company specializing in sports apparel and collectibles. Before this role, he served as a senior advisor to Fanatics starting in August 2021. Like the other new board members, Winiarski holds an Ivy League degree and has deep expertise in corporate legal matters.

These new appointments coincide with MicroStrategy’s inclusion in the Nasdaq 100 index. The addition of accomplished individuals like Brian Brooks, Jane Dietze, and Gregg Winiarski to the board underscores the company’s commitment to strengthening its position in the Nasdaq 100 and enhancing its leadership capabilities.

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