MicroStrategy Calls Special Shareholder Meeting to Advance Bitcoin 21/21 Plan

Corporate Bitcoin investor MicroStrategy has announced a special shareholder meeting to address proposals aimed at advancing its Bitcoin-focused 21/21 Plan while streamlining capital-raising efforts.

In a letter from the executive chairman, the company set out three major points on the agenda to be decided during the meeting, which will be held virtually.

New proposals from MicroStrategy

The first proposal seeks to amend the company’s second restated certificate of incorporation to increase the number of authorized Class A shares from 330 million to 10,330 million. This would facilitate possible future capital raising activities.

The second involves increasing authorized preferred shares from 5 million to 1,005 million and offering expanded financing options for strategic initiatives.

Finally, the company aims to amend its 2023 Equity Incentive Plan to grant automatic equity awards to new directors who join the Board, aligning their compensation with MicroStrategy’s long-term Bitcoin strategy.

Since October 2024, the company has raised more than $2 billion through equity and debt instruments to expand its holdings in Bitcoin, increasing its position as a corporate leader in digital asset investment. According to the letter, the proposed amendments will provide the necessary flexibility to adapt the company’s financial strategy to evolving market conditions, while ensuring sustained alignment with its long-term goals.

While the company highlighted the potential to increase shareholder value through these measures, it added that the increase in share authorizations would not lead to immediate dilution but would provide a framework for an implementation gradual

Aggressive Bitcoin Accumulation

The latest development comes just a day after MicroStrategy founder Michael Saylor announced the acquisition of 5,262 BTC between December 16 and 22. This reserve is worth approximately $561 million and brings its total Bitcoin holdings to 444,262 BTC, acquired at a total price of $27.7 billion, at an average cost of $62,257 per BTC.

Interestingly, the purchase was made at an average price of $106,662 per Bitcoin, marking the highest price the company has ever paid for the currency.

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