On Tuesday, tech giant MicroStrategy purchased an additional 11,000 Bitcoin (BTC) for approximately $1.1 billion, as disclosed by its chair and co-founder Michael Saylor in a social media post on X (formerly Twitter).
This acquisition marks the company’s 11th consecutive week of Bitcoin purchases, reinforcing its status as a significant player in the digital currency space. Saylor has been at the forefront of this strategy, positioning the enterprise software company as a leveraged Bitcoin proxy.
MicroStrategy Bitcoin Holdings Surge
According to Microstrategy’s filing with the US Securities and Exchange Commission (SEC), the firm acquired the Bitcoin at an average price of about $101,191 per token between January 13 and January 20.
With this latest purchase, the firm now holds over 2% of all Bitcoin that will ever be mined, representing approximately $47.9 billion in total Bitcoin holdings. MicroStrategy has been funding these acquisitions through a combination of at-the-market stock sales and convertible debt offerings.
The timing of this latest purchase aligns with a broader shift in the regulatory environment under President Donald Trump, who has transitioned from being a crypto skeptic to a supporter of the industry.
This change is expected to create a more favorable regulatory framework for cryptocurrencies, prompting Saylor and MicroStrategy to accelerate their capital goals and Bitcoin buying efforts.
Ahead of Trump’s inauguration, the firm’s co-founder even attended the first ever “Crypto Ball” in Washington on Friday, where he engaged with key figures in the incoming administration.
New Shares To Support BTC Strategy
In a related development, MicroStrategy shareholders voted also on Tuesday to approve a staggering 30-fold increase in the number of authorized Class A common shares, raising it from 330 million to 10.3 billion.
According to a Bloomberg report, this decision, which passed with around 56% of the vote, is designed to facilitate further financing for the company’s Bitcoin purchases. Additionally, shareholders voted to increase the authorized shares of preferred stock from 5 million to 1 billion.
These amendments will take effect once MicroStrategy files the necessary certificate of amendment with the Delaware Secretary of State. The report notes that with Chairman Saylor holding about 47% of the voting power, the outcome was largely anticipated.
The newly authorized shares will also be utilized for various…
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