Author: Ana Paula Pereira, Cointelegraph; Compiler: Deng Tong, Golden Finance

Software company MicroStrategy is holding a special shareholder meeting to expand its stock issuance plan and buy more Bitcoin.

The company is seeking permission to increase the authorized number of shares of Class A common stock and preferred stock in order to issue additional shares as needed in the future, according to a proxy document filed with the Securities and Exchange Commission on December 23 have greater flexibility.

The first amendment seeks to increase the authorized shares of Class A common stock from 330 million to 10.33 billion shares, while the second amendment seeks to increase the authorized shares of preferred stock from 5 million to 1 billion shares or above.

MicroStrategy filing on December 23, 2024. Source: Street Insider

Underlying these proposals is MicroStrategy’s $21 billion plan. The plan, disclosed in October, outlines the company's goal to purchase an additional $42 billion worth of Bitcoin over the next three years. The plan includes raising $21 billion through stock sales and another $21 billion through fixed-income securities.

According to MicroStrategy's document:

"Proposals 1 and 2 of this special meeting call for an increase in authorized shares of the company's capital stock to support further implementation of our $21 billion plan and more broadly in the future capital markets activities and other corporate purposes.”

The company has been regularly acquiring BTC since 2020, but the purchases have intensified since the plan was announced. In December alone, it purchased 42,162 Bitcoins, worth more than $4 billion at current prices.

In late October, MicroStrategy reported a 17.8% BTC yield, with plans to achieve annual returns of 6% to 10% between 2025 and 2027. Since then, it has reportedly raised $13 billion through equity offerings and $3 billion through convertible debt offerings.

“We are executing on our $2.1 billion plan much faster than originally anticipated,” the document states.

As of December 22, the company and its subsidiaries held a total of approximately 444,262 BTC, worth approximately $43.53 billion. The total acquisition price of these tokens was $27.7 billion, with the average purchase price being $62,257 per BTC.

MicroStrategy currently holds more than 444 million BTC. Source: Saylor Tracker

The company’s shares on Nasdaq are up more than 422% year-to-date—largely thanks to The date for its Bitcoin Strategy special shareholder meeting has not yet been announced. The company's next earnings report is scheduled for February 2, 2025.