Shareholders of American business intelligence and software firm, MicroStrategy Incorporated, have voted to increase the firm’s shares supply. The dilution move will now see the firm’s MSTR supply increase from its current 330 million to 10.3 billion. This dilution impacts the authorized Class A common stock and preferred stock respectively.
MicroStrategy Bitcoin Purchase Agenda Continues
The MicroStrategy shareholders approved two proposals that will see it function more effectively as a major Bitcoin investor. Increase the Class A common stock will give the company more reserve base to power its debt offering in its bid to buy more Bitcoin.
MicroStrategy announced it acquired 11,000 BTC for $1.1 billion earlier today, bringing its total stash to 461,000 BTC units. For more than 7 weeks consecutive weeks, the company has made BTC acquisitions despite existing market volatility. It considered the share supply increment a way to ensure a long-term sustainability of its agenda.
This is a developing story, please check back for updates!!!
The post Breaking: MicroStrategy Shareholders Increase MSTR Supply To Aid Bitcoin Buyup appeared first on CoinGape.
