MicroStrategy, the biggest corporate owner of Bitcoin, has proposed issuing 11 billion shares to bolster its cryptocurrency acquisition strategy.
Strategy for Increasing Shares
MicroStrategy has requested shareholder approval to increase the number of both Class A common stock and preferred stock. The proposal includes raising the number of authorized Class A shares from 330 million to 10.33 billion and preferred shares from 5 million to 1.005 billion.
MicroStrategy's Plans and Strategies
MicroStrategy CEO Michael Saylor is doubling down on his Bitcoin acquisition strategy despite recent market volatility. Saylor believes embracing Bitcoin can strengthen the US dollar and promote economic growth. The company recently acquired an additional 5,262 Bitcoins for approximately $561 million as part of its '21/21' plan aimed at a three-year $42 billion capital investment.
Company's Leadership Changes
Earlier this month, MicroStrategy expanded its board of directors from six to nine members. New members include Brian Brooks, Jane Dietze, and Gregg Winiarski. Brooks served as CEO of Binance for three months in 2021, while Dietze joined Galaxy Digital's board of directors in 2022.
MicroStrategy actively promotes its strategic plans and continues to strengthen its presence in the cryptocurrency sector despite Bitcoin market volatility.
