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

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 added to its bitcoin stash for the 11th week in a row, as the company's investors get ready to vote on increasing its Class A and preferred stock and enhancing its ability to buy more bitcoin.

Microstrategy has increased its Bitcoin holdings after completing a recent purchase involving 11,000 Bitcoin. The company announced on Tuesday it had purchased the digital assets for an approximate price of 1.

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—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.

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

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

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