MicroStrategy shareholders approved an increase in Class A common shares. Authorized preferred stock shares will also rise. The proposals passed with 56% approval, bolstered by

Shareholders of MicroStrategy (MSTR) gave the company the go-ahead to boost its number of authorized class A common shares by 30-fold to finance purchases of bitcoin.

MicroStrategy—which almost exclusively focuses on securitizing Bitcoin—last year announced a “21/21 Plan” to raise $46 billion to buy even more Bitcoin. The plan would see the firm raise $21 billion via equity, with another $21 billion coming by selling fixed income securities.

MicroStrategy shareholders approve a 30-fold increase in Class A shares to support Bitcoin acquisitions, boosting its crypto reserves.