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MicroStrategy Could Soon Join Apple, Alphabet in Nasdaq’s Top Ranks

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Giuseppe Ciccomascolo
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Key Takeaways
  • MicroStrategy is on the brink of dramatically increasing its authorized Class A shares from 330 million to 10.3 billion.
  • Michael Saylor holds 47% of the company’s voting power, virtually ensuring the success of the proposal.
  • This move is part of MicroStrategy’s broader strategy to raise $42 billion over three years for Bitcoin acquisitions.

MicroStrategy (MSTR) is on track for a dramatic shift, seeking approval to increase its authorized Class A shares from 330 million to 10.3 billion.

If approved, MicroStrategy will be inducted into the Nasdaq’s elite—Nvidia, Apple, Alphabet, and Amazon—in authorized shares.

A Strategic Play on Bitcoin

This move, set to be voted on Jan. 21, aligns with the company’s overall Bitcoin (BTC) strategy—which aims to raise $42 billion over the next three years.

CEO Michael Saylor, who controls 47% of the voting power, is expected to ensure the  proposal’s success.  In terms of outstanding shares, the software company will be positioned alongside market giants like Amazon and Alphabet.

The share increase follows MicroStrategy’s October 2024 announcement, where it planned to raise $42 billion to buy Bitcoin.

Surprisingly, since the announcement, the company has increased its Bitcoin holdings to over $44 billion with consistent weekly purchases even in times of market turmoil. 

Rivaling Tech Giants

While the prospect of diluting shares raises concerns, especially regarding earnings per share and voting rights, MicroStrategy’s commitment to Bitcoin remains at the forefront of its business plan.

The company’s authorized shares are not automatically issued, with a significant gap between authorized and outstanding shares.

For context, Alphabet holds 300 billion authorized shares and Nvidia 80 billion, underscoring the scale of MicroStrategy’s proposed expansion.

Nasdaq 100 shares
MicroStrategy’s ranking in the Nasdaq 100. Credit: Bloomberg

If the proposal passes, MicroStrategy could rank among the Nasdaq’s largest companies by share count, surpassing tech giants like Microsoft, which has 300 billion authorized shares.

Even Tesla, with half the number of authorized shares as MicroStrategy’s proposal, would be dwarfed by the software company’s potential share issuance.

However, shareholders will also vote on a proposal to raise the number of authorized preferred stock shares from 5 million to 1 billion, further complicating the company’s equity structure.

If approved, this would bring MicroStrategy’s authorized stock totals on par with tech behemoths and well above rivals like Tesla.

Bitcoin’s Influence on Stock Performance

MicroStrategy’s stock performance is closely tied to Bitcoin’s price movements.

Recently, the company saw its share price drop in line with Bitcoin’s dip. However, with Bitcoin once again approaching the $100,000 mark amid broader crypto market volatility, MicroStrategy’s stock is on the rise.

As of Jan. 15, 2025, the company’s stock gained 4.2% when Bitcoin surged toward $100,000. Since January 2024, MicroStrategy’s stock has skyrocketed 610%, reaching a price of $342.17 per share, with a market capitalization of $84.1 billion.

With 450,000 BTC  in its portfolio, MicroStrategy remains the largest corporate holder of Bitcoin. The asset’s performance continues to play a significant role in the company’s stock valuation.

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Giuseppe Ciccomascolo

Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors. Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.
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