MicroStrategy announced its financial performance for the third quarter of 2024, holding 252,220 BTC, with a year-to-date BTC return of 17.8%. The company plans to raise 42 billion USD over the next three years to purchase more BTC as financial reserve assets.

MAG7.SSI

Odaily Planet Daily reports that MicroStrategy has announced its financial performance for the third quarter of 2024. As of the end of the third quarter, the company holds 252,220 BTC, with a year-to-date BTC return of 17.8%. Under the leadership of Executive Chairman Michael Saylor, the company has proposed the "21/21 Plan," which aims to raise $21 billion in equity financing and $21 billion in bond issuance over the next three years to utilize additional capital for purchasing more BTC as a financial reserve asset, thereby achieving higher BTC returns. MicroStrategy's most recent disclosure of BTC purchases was in mid-September, when it announced the purchase of 7,420 BTC for $458.20 million, bringing its total BTC holdings to 252,220, with a total value of $9.90 billion and an average price of $39,266 per coin. Based on the current price of approximately $72,000, the company's BTC holdings are valued at over $18 billion. As of the end of the quarter, the remaining funds from the company's last financing amount to $891.30 million. MicroStrategy has also raised its target range for "BTC return" from the previous 4%-8% to 6%-10%. The BTC return metric was created by Saylor and his team, with MSTR considering it a key performance indicator (KPI) to describe the company's performance in acquiring BTC in a value-enhancing manner. MicroStrategy's stock price fell 10% in after-hours trading, but it has still risen approximately 250% year-to-date. (CoinDesk)

MicroStrategy plans to raise $42 billion over the next three years to increase its holdings of BTC.

MicroStrategy plans to raise $42 billion over the next three years to increase its holdings of BTC.