MicroStrategy, the business intelligence company turned Bitcoin giant, is in the news again. Shareholders just approved a big increase in the company’s authorized shares which will allow the company to buy even more bitcoin.

In the days following the announcement, the company’s stock fell 4.2% from highs of more than $400 to as low as $368.31, followed by a partial recovery.

The company has been a Bitcoin bull since its co-founder and executive chairman, Michael Saylor, started the initiative in 2020. With over $48 billion in bitcoin in its reserves, MicroStrategy now has over 2% of the total bitcoin supply.

At the center of it all is a shareholder vote to increase…

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