MicroStrategy Inc. bought $1.1 billion of Bitcoin, as the company gears up for a shareholder vote on a 30 times increase its authorized Class A shares.

MicroStrategy shareholders approved an increase in Class A common shares. Authorized preferred stock shares will also rise. The proposals passed with 56% approval, bolstered by

Rumble Inc. (RUM), a video-sharing platform, revealed that it had purchased its first Bitcoin (BTC) just ahead of Donald Trump’s inauguration event on Jan. 20, noting that “it won’t be the last” Bitcoin purchase for the company.

MicroStrategy Inc. shareholders voted for a 30 times increase to the number of authorized Class A common shares to help finance the company’s Bitcoin buying.

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.

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

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

Key Takeaways MicroStrategy has purchased another $1.1 billion worth of bitcoin for its treasury, which brings its total holdings to 461,000 bitcoin.This is the eleventh week in a row MicroStrategy has announced a bitcoin purchase.

MicroStrategy stock was down in premarket trading Tuesday after President Trump failed to mention his plans for bitcoin in his inaugural address. Despite talks of a strategic bitcoin reserve on the campaign trail,