Business analytics firm MicroStrategy Inc. ( MSTR ) on Tuesday announced it has expanded its Bitcoin (CRYPTO: BTC) holdings by purchasing an additional 11,000 BTC for approximately $1.1 billion, averaging $101,191 per coin.

This acquisition brings the company’s total Bitcoin assets to 461,000 BTC, acquired at an aggregate cost of $29.3 billion, with an average purchase price of $63,610 per Bitcoin.

The company’s consistent Bitcoin acquisitions have positioned it as one of the largest corporate holders of the cryptocurrency.

MicroStrategy ( MSTR ) has funded its Bitcoin purchases using a combination of at-the-market stock sales and convertible debt issuances, seeking to raise $42 billion in capital through these methods by 2027.

Its approach has influenced other publicly traded companies to consider Bitcoin investments.

Notably, Marathon Digital Holdings holds approximately 26,842 BTC, and Coinbase Inc. possess around 9,000 BTC.

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Similar to Marathon, Hut 8 ( HUT ) Mining Corp. is another publicly traded Bitcoin miner that holds Bitcoin as part of their treasury management. 

Electric vehicle manufacturer Tesla made a significant purchase of $1.5 billion in Bitcoin in early 2021.

Block Inc., formerly Square, led by Jack Dorsey, holds around $235 million in Bitcoin on its balance sheet.

On Tuesday, MicroStrategy ( MSTR ) shareholders will vote on a proposal to increase authorized Class A common stock from 330 million to 10.3 billion shares and authorized preferred stock from 5 million to 1 billion shares.

With Michael Saylor holding approximately 47% of voting power, the proposed amendments are likely to be approved.

As of now, MicroStrategy ( MSTR ) has $5.42 billion remaining under its equity offerings plan.

Expanding share sales would enable the company to further support its ongoing strategy of purchasing additional Bitcoin.

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