MicroStrategy shareholders approved an increase in Class A common shares. Authorized preferred stock shares will also rise. The proposals passed with 56% approval, bolstered by

Shareholders of MicroStrategy (MSTR) gave the company the go-ahead to boost its number of authorized class A common shares by 30-fold to finance purchases of bitcoin.

MicroStrategy—which almost exclusively focuses on securitizing Bitcoin—last year announced a “21/21 Plan” to raise $46 billion to buy even more Bitcoin. The plan would see the firm raise $21 billion via equity, with another $21 billion coming by selling fixed income securities.

MicroStrategy Inc. shareholders voted for a 30 times increase to the number of authorized Class A common shares to help finance the company’s Bitcoin buying.

Key Takeaways MicroStrategy has purchased another $1.1 billion worth of bitcoin for its treasury, which brings its total holdings to 461,000 bitcoin.This is the eleventh week in a row MicroStrategy has announced a bitcoin purchase.