MicroStrategy Plans Special Shareholder Vote To Support Its $42 Billion Bitcoin Acquisition Strategy — Michael Saylor Says Proposals Support 21/21 Plan

MicroStrategy Inc. (NASDAQ:MSTR) announced a special shareholder meeting Monday to vote on proposals to support its ambitious $42 billion Bitcoin (CRYPTO: BTC) purchase plan.

What happened: In a 14A filing shared with the SEC, executive chairman Michael Saylor proposed increasing the company’s authorized Class A shares from 330 million currently to 10.33 billion to facilitate future capital raising.

Additionally, he recommended increasing the number of authorized shares of preferred stock from 5 million to 1.005 billion.

Preferred stocks usually offer fixed dividends and rank higher than common stocks during asset liquidation.

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