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

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.

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.