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.

Bitcoin transaction volume over $100,000 decreased by 15%, while netflows dropped 307%, signaling a possible cooling of market activity. Over $161 million in liquidations occurred in the past 24 hours,

MicroStrategy added to its bitcoin stash for the 11th week in a row, as the company's investors get ready to vote on increasing its Class A and preferred stock and enhancing its ability to buy more bitcoin.

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

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