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MicroStrategy, the world’s leading bitcoin holding company, is proposing a massive increase in its stock to finance the purchase of more BTC. The initiative, which aims to raise $42 billion, reflects the company’s ambitious strategy to strengthen its position in the BTC treasury.
Even more Bitcoins for MicroStrategy!
MicroStrategy, the world’s largest bitcoin holding company, recently proposed a massive increase in its stock to finance the purchase of more BTC. This proposal submitted to shareholders aims to increase the number of Class A ordinary shares from 330 million to 10.33 billion and preferred shares from 5 million to 1.005 billion.
The initiative is part of MicroStrategy’s “21/21” plan, an ambitious three-year program to raise $42 billion, split equally between equity and debt instruments. This plan supports the company’s strategy to acquire more bitcoins, thereby consolidating its position as the leader in bitcoin cash registers.
In addition to the stock increase, MicroStrategy also proposed a new stock incentive plan that would automatically award stock awards to new directors. This proposal reflects a new step in the company’s development as a bitcoin cashier and its ambitious goals for the future.
The price of MSTR is collapsing
Despite these announcements, MicroStrategy ( MSTR ) shares fell 8.78% to $332.23 as of Monday’s close, losing 17.6% over the past month. However, MicroStrategy shares are up an impressive 450% over the past year.
In addition, Michael Saylor announced that the company recently acquired an additional 5,262 Bitcoins for approximately $561 million, bringing its total holdings to 444,262 BTC, which is currently over $41.6 billion.
In short, Michael Saylor-led MicroStrategy’s proposed stock hike marks a significant step in its bitcoin acquisition strategy, reflecting its continued confidence in the cryptocurrency’s long-term potential.
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The world is evolving and adaptation is the best weapon to survive in this wavy universe. Essentially a crypto community manager, I am interested in anything directly or indirectly related to blockchain and its derivatives. To share my experiences and raise awareness of a field that fascinates me, there is nothing better than writing articles that are both informative and relaxing.
DISCLAIMER OF LIABILITY
The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.