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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