MicroStrategy, led by Bitcoin advocate and co-founder Michael Saylor, is preparing for a pivotal shareholder meeting set to redefine the company’s financial landscape. Scheduled for Tuesday in New York, the meeting includes a significant proposal to expand the company’s authorized shares dramatically.

Major Share Expansion Proposed

The proposal outlines an increase in authorized Class A common stock from 330 million to 10.3 billion shares and a rise in preferred shares from 5 million to 1 billion. With Michael Saylor wielding 46% of voting power through Class B shares, approval seems highly likely.

The expansion is part of MicroStrategy’s ambitious “21/21 Plan,” a three-year initiative aimed at raising $42 billion via equity and debt offerings to fund massive Bitcoin purchases.

Funding the Bitcoin Push

The company plans to generate $2 billion through preferred stock offerings, prioritizing these over common stock. Since the launch of the 21/21 Plan, MicroStrategy has already acquired 197,780 BTC through weekly purchases, bringing it close to halfway toward its target.

Saylor remains optimistic about achieving the plan’s goals, hinting at a potential reassessment of MicroStrategy’s broader financial strategies once the $42 billion target is reached.

Shareholders will also vote on revisions to MicroStrategy’s equity incentive plan, including automatic stock grants for new board members. The company currently has $6.5 billion in remaining equity offerings under its strategy.

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