Their biggest backers include an unlikely group of insurance companies, mutual funds and other usually conservative bond investors.The software company turned itself into a bitcoin whale and now owns some $48 billion of the cryptocurrency.

When you think of companies that rival Amazon (AMZN) in size and scope, MicroStrategy (MSTR) isn’t the first name that comes to mind. Yet the software company turned Bitcoin powerhouse is about to join the ranks of tech giants like Amazon,

MicroStrategy, led by Michael Saylor, has announced its latest Bitcoin purchase, marking its third acquisition of the year.

The shareholders behind MicroStrategy have voted to dramatically increase the number of shares in a bid to raise funds for additional Bitcoin (BTC).

Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR). Led by Executive Chairman Michael Saylor, MicroStrategy (MSTR) has again added to its massive bitcoin (BTC) stack. In the week ending Jan 19,

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 approves major increase in the company’s authorized shares, expanding from 330M to 10.3B for BTC acquisitions.

That all changed in 2020, when MicroStrategy's co-founder and then-CEO Michael Saylor directed it to buy 21,454 Bitcoin s ( BTC 4.66%) for $250 million. It then accumulated more Bitcoin each year, and it held 450,000 Bitcoins as of Jan. 13.

MicroStrategy stock is testing a closely watched level as bitcoin prices have risen. So, is it time to buy, sell or hold?

Microstrategy has increased its Bitcoin holdings after completing a recent purchase involving 11,000 Bitcoin. The company announced on Tuesday it had purchased the digital assets for an approximate price of 1.

MicroStrategy bought another 11,000 Bitcoin for $1.1 billion ahead of Trump's inauguration. Total holdings are now at 461,000 BTC.