MicroStrategy Inc.’s Michael Saylor may soon have almost as many common shares at his disposal to help fund the company’s Bitcoin buying spree as market behemoths Amazon.com Inc. and Alphabet Inc. have outstanding.

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Michael Saylor has a plan to boost MicroStrategy’s authorized Class A shares to 10.3 billion, far above its current 330 million. It puts it in the same league as Wall Street tech giants like Amazon and Alphabet.

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While MicroStrategy's legacy software operations remain intact, its financial core has shifted decisively toward Bitcoin.

MicroStrategy has proposed amendments to increase authorized common shares to 10.33 billion and preferred stock to over 1 billion.

Financial writer highlights MicroStrategy Incorporated's potential buying opportunity and outperformance compared to Bitcoin. Click for this MSTR update.

Borrow money through convertible debt. Buy Bitcoin (CRYPTO:BTC) to drive prices higher. Sell new stock to buy more Bitcoin. Wash, rinse, repeat. This has been MicroStrategy‘s (NASDAQ:MSTR) business strategy since 2020 when it decided to become a bitcoin treasury company.

If bitcoin goes to the moon, a niche group of convertible-bond investors will win out. If the crypto tanks, they can ask for their money back early.

Benchmark maintains its buy rating on MSTR with a price target of $650. As of Monday, MicroStrategy purchased a further 2,530 BTC taking total holdings to 450,000 BTC.

Shares of MicroStrategy Inc. slumped again on Monday, after the software company and cryptocurrency play disclosed that it resumed bitcoin purchases at prices well above current levels. The company continued to lean on shareholders to fund the purchases, as it used the $243 million raised through the sale of common stock.

MicroStrategy Inc. bought $101 million of Bitcoin after announcing that it would use perpetual preferred stock as well as common shares and debt to acquire more of the cryptocurrency.