Microstrategy shareholders have approved a plan to increase the company’s number of available shares. The firm can now raise the total number of shares from 330 million to 10.3 billion.
The company proposed to use this expanded share supply to support the bitcoin buying strategy. With the increasing number of shares, Microstrategy can secure more funds for debt offerings and use them to strengthen its ability to invest more in Bitcoin.
The company will have greater reserve capital to support its debt offering in its attempt to purchase more Bitcoin if it increases its Class A ordinary stock.
MicroStrategy recently bought 11,000 BTC for $1.1 billion, bringing their total holdings to 461,000 BTC. Despite market volatility, the company has stuck to its plan to consistently buy Bitcoin for over seven weeks.
Also Read: MicroStrategy Plans to Raise $2B for Bitcoin Investments
