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MicroStrategy’s Michael Saylor Wants to Buy “All World’s Bitcoin”
In a surprising revelation, MicroStrategy Executive Chairman Michael Saylor has expressed interest in buying all the world’s Bitcoin. This bold statement sent shockwaves throughout the cryptocurrency community, as it underscores the company’s relentless commitment to expanding its BTC reserves.
Saylor made the remark on X (formerly Twitter), where he shared a headline from Barron’s magazine stating that MicroStrategy wants the ability to issue enough shares to buy all of the world’s Bitcoin. The CEO responded by saying “I get all of my best ideas from Barron’s,” hinting at the company’s willingness to explore innovative ways to grow its bitcoin holdings.
It is worth noting that Saylor’s statement is more a reflection of MicroStrategy’s unyielding enthusiasm for buying Bitcoin than a concrete plan to execute such a massive purchase. Nevertheless, it highlights the organization’s unwavering dedication to expanding its BTC reserves.
In recent times, MicroStrategy has been focusing on bolstering its financial flexibility by convening a special meeting with shareholders to discuss proposals aimed at boosting its capacity to fund future Bitcoin purchases. This move is part of the company’s ambitious “21/21 plan.”
The upcoming meeting will present several measures designed to enhance MicroStrategy’s financial flexibility and align leadership incentives with its Bitcoin-centric strategy.
Key Proposals on the Table:
1. Expansion of Class A Shares: The firm has proposed increasing the number of authorized Class A shares from 330 million to 10.33 billion, a move intended to provide greater latitude for capital-raising initiatives.
2. Growth in Preferred Shares: Another proposal seeks to raise the number of authorized preferred shares from 5 million to 1.005 billion, broadening financing options for strategic goals.
3. Amendments to the Equity Incentive Plan: Adjustments to the 2023 Equity Incentive Plan include automatic equity awards for new directors, ensuring their interests align with the company’s Bitcoin-first vision.
These proposals reflect the company’s ongoing commitment to expanding its BTC reserves.
Source: www.cryptonewsz.com
