MicroStrategy Plans Buying Bitcoin Again

MicroStrategy called a special shareholders’ meeting on December 23 filing to buy more Bitcoin and expand its equity-issuance plan.

The company requested permission from the US Securities and Exchange Commission (SEC) to increase the authorized number of shares for both Class A common stock and preferred stock to give itself more flexibility to issue more shares as needed.

BrokerReviewRegulatorsMin DepositWebsite
🥇Read ReviewFCA, CySEC, ASIC, MAS, FSA, EFSA, DFSA, CFTCUSD 100Visit Broker
🥈Read ReviewFSCA, FSC, ASIC, CySEC, DFSAUSD 5Visit Broker
🥉Read ReviewCySEC, MISA, FSCAUSD 25Visit Broker
4Read ReviewASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBUSD 200Visit Broker
5Read ReviewASIC, FCA, CySEC, SCBUSD 100Visit Broker
6Read ReviewFCA, FSCA, FSC, CMAUSD 200Visit Broker
7Read ReviewBVI FSCUSD 1Visit Broker
8Read ReviewCBCS, CySEC, FCA, FSA, FSC, FSCA, CMAUSD 10Visit Broker
9Read ReviewASIC, CySEC, FSCA, CMAUSD 100Visit Broker
10Read ReviewIFSC, FSCA, ASIC, CySECUSD 1Visit Broker

The American listed company’s Bitcoin strategy has been a major factor in the Nasdaq stock’s increase of over 422 percent this year. There was no public announcement of the special shareholder meeting date.

The First Amendment seeks to boost the authorized Class A common stock from 330 million units to 10.33 billion units while the Second Amendment aims to increase the authorized preferred stock from 5 million units to over 1 billion units

The company has been buying Bitcoin regularly since 2020, and since the plan was revealed, its purchases have increased. It purchased 42,162 Bitcoin this month alone, worth over $4 billion. MicroStrategy stated at the end of October that its Bitcoin yield was 17.8%, with plans to reach a yield of 6% to 10% annually between 2025 and 2027. It has reportedly raised $3 billion through convertible bond offerings and $13 billion through stock issuances. The document stated, “We have been carrying out our 21/21 Plan at a substantially faster pace than initially projected.”.

MicroStrategy is the biggest corporate owner of Bitcoin and has continued to purchase the cryptocurrency throughout the year.  MicroStrategy owns an estimated $40 billion worth of bitcoins in total.

 

 

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
ABOUT THE AUTHOR See More
Olumide Adesina
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
Related Articles
Comments
0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments