On January 21st, in a significant move for the cryptocurrency sector, MicroStrategy gained shareholder approval for amendments that will enable the firm to significantly escalate its authorized shares. This strategic decision reinforces the company’s ambition to bolster its Bitcoin holdings. Last October, MicroStrategy revealed an ambitious initiative labeled the “21/21 Plan,” which consists of a dual approach allowing for the issuance of $21 billion in both equity and fixed-income securities. This funding strategy aims to enhance its Bitcoin treasury reserve.
As of January 20th, the company disclosed that approximately $5.42 billion in stock remains available for divestiture, part of its overarching goal to raise a staggering $42 billion to amplify its Bitcoin acquisitions. In a recent update, MicroStrategy confirmed the purchase of an additional 11,000 bitcoins for close to $1.1 billion, equating to an average acquisition cost of $101,191 per bitcoin. With current holdings over 461,000 bitcoins, valued at over $48 billion, MicroStrategy continues to solidify its position as a leading institutional investor in the digital asset space.