Summary
- MicroStrategy announced that it is seeking to expand its authorized shares to secure funds for purchasing Bitcoin.
- The company reported that it will propose an agenda to expand Class A common stock to 10.3 billion shares and preferred stock to 1 billion shares at the shareholders' meeting.
- It announced plans to raise up to $2 billion through additional preferred stock offerings to be used for Bitcoin acquisition.
MicroStrategy (MSTR), the world's largest Bitcoin (BTC) holding company, is seeking to expand its authorized shares to secure funds for purchasing Bitcoin.
According to a report by CryptoDNES on the 20th (local time), MicroStrategy plans to propose an agenda at the general meeting scheduled for the 21st to expand the company's Class A common stock from 330 million shares to 10.3 billion shares and preferred stock from 5 million shares to 1 billion shares.
MicroStrategy plans to raise up to $2 billion through additional preferred stock offerings, and the funds are expected to be used for MicroStrategy's Bitcoin acquisition plans.
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