Hold onto your hats, crypto enthusiasts! MicroStrategy is back in the spotlight with a bold new Bitcoin plan that's stirring up quite the buzz. The corporate Bitcoin powerhouse is calling on its shareholders for a virtual get-together to discuss some intriguing proposals aimed at boosting its Bitcoin-centric 21/21 Plan and making it easier to rake in capital.
Picture this: in a letter from the Executive Chairman, MicroStrategy laid out three key topics on the agenda for the upcoming meeting. First up, they’re looking to bump up the number of authorized Class A shares from 330 million to a whopping 10.33 billion. Why, you ask? To pave the way for potential future fundraising adventures, of course!
Next on the list, they're considering a massive increase in authorized preferred shares from 5 million to 1.005 billion, giving them a treasure chest of financing options for those strategic moves.
And last but not least, they want to tweak their 2023 Equity Incentive Plan. The goal? To ensure new directors hopping on board get a slice of the pie, perfectly syncing their compensation with MicroStrategy’s long-term Bitcoin dreams.
Since October 2024, these folks have been on a mission, raising over a cool $2 billion through equity and debt plays, all to grow their Bitcoin stash. This move has solidified their spot as a front-runner in the world of corporate digital asset investment. The proposed changes are designed to keep them nimble, ready to tackle whatever the market throws their way while staying true to their long-term vision.
MicroStrategy assures everyone that while these changes open the door to exciting opportunities, they won’t lead to an immediate dilution of shares. Instead, think of it as setting the stage for an exciting, gradual rollout.
This news comes hot on the heels of founder Michael Saylor’s latest big Bitcoin buy. Between December 16 and 22, they snapped up 5,262 BTC, shelling out around $561 million. This brings their total stash to a jaw-dropping 444,262 BTC, scooped up for a grand total of $27.7 billion, averaging $62,257 per BTC.
And here's the kicker: this latest purchase was made at an average price of $106,662 per Bitcoin, marking the priciest coin grab the company’s ever made. Talk about making waves in the crypto sea!
