When you think of companies that rival Amazon (AMZN) in size and scope, MicroStrategy (MSTR) isn’t the first name that comes to mind. Yet the software company turned Bitcoin powerhouse is about to join the ranks of tech giants like Amazon, Apple (AAPL), and Alphabet (GOOG) (GOOGL) in one surprising metric: authorized share count.
Under the leadership of Bitcoin (BTCUSD) evangelist Michael Saylor, MicroStrategy is seeking shareholder approval to increase its authorized Class A common shares to a staggering 10.3 billion from its current 330 million. If approved at the next shareholder meeting, this would put MicroStrategy in the same league as the Nasdaq-100’s ($IUXX) most prominent members in terms of potential shares outstanding. The bold move is part of MicroStrategy’s ambitious $42 billion capital-raising strategy, which should fuel its ongoing Bitcoin acquisition spree.
