JAKARTA - MicroStrategy, a business intelligence company known as one of the largest institutional investors in Bitcoin (BTC), has ambitions to buy more Bitcoin in large quantities. The company's plan has strong support from shareholders to raise funds of up to 42 billion US dollars (or around Rp680 trillion). Later, these funds will be used to increase the company's Bitcoin reserves.
In a recent report released by Bloomberg, MicroStrategy shareholders have approved the company's proposal to increase the number of ordinary Class A shares from 330 million to 10.3 billion shares. In addition, the number of preferent shares was also raised from 5 million to 1 billion. About 56% of shareholders support this move, reflecting optimism for MicroStrategy's expansion strategy in the Bitcoin market.
This is not the first time this effort has been made for MicroStrategy. Prior to the announcement of the plan, the company founded by Michael Saylor had added 11,000 BTC to its portfolio for a total cost of around $1.1 billion.
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MicroStrategy Now Has 461,000 Bitcoins
Currently, MicroStrategy's total Bitcoin ownership reaches 461,000 BTC, with current market value of more than 48 billion US dollars (Rp777.6 trillion). In fact, in recent weeks, MicroStrategy has continued to enlarge its reserves by adding another 2,530 BTC.
MicroStrategy also plans to raise funds of US$2 billion (around Rp32.4 trillion) in the first quarter of 2025. However, the implementation of this plan still depends on market conditions.
"The main goal of this step is to strengthen our balance sheet while increasing Bitcoin ownership as a strategic asset," said a MicroStrategy representative.
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