Microsoft shareholders will vote on a proposal submitted by the National Center for Public Policy Research about whether to add bitcoin to the company’s balance sheet. However, the tech giant’s board of directors have advised shareholders to vote against the proposal,

MicroStrategy’s stock issuance spree could be a bonanza for the nine firms that are handling the equity sales.The company, the largest corporate bitcoin holder, has taken advantage of its elevated stock price since the end of the third quarter to issue a large amount of equity and used the proceeds to buy bitcoin.

MicroStrategy Inc. bought another $1.5 billion in Bitcoin, the fourth consecutive weekly purchase announced by the crypto hedge fund proxy.

The software company has spent nearly $7 billion buying bitcoin in the past two weeks as prices have pulled back.

MicroStrategy acquires 15,400 Bitcoin, raising total holdings to 402,100 BTC, with plans for a large capital raise for more purchases.

MicroStrategy stock was rising after the company announced that it had purchased some 15,400 bitcoin for about $1.5 billion dollars. In a filing released Monday morning, MicroStrategy said it had purchased the bitcoin for an average price of $95,

Key Takeaways MicroStrategy purchased another $1.5 billion worth of bitcoin.The company now holds nearly 2% of all the bitcoin that will ever exist.MicroStrategy Chairman Michael Saylor also presented to the Microsoft board regarding the benefits of holding bitcoin last week.