MicroStrategy plans to raise $42 billion in the next three years to increase its BTC holdings

MicroStrategy announced its third-quarter 2024 financial results. As of the end of the third quarter, the company held 252,220 BTC, with a BTC yield of 17.8% year-to-date. Under the leadership of Executive Chairman Michael Saylor, the company proposed the "21/21 Plan", which plans to conduct $21 billion in equity financing and $21 billion in bond issuance over the next three years, using additional capital to purchase more BTC as financial reserve assets in order to achieve higher BTC returns. MicroStrategy last disclosed the purchase of BTC in mid-September, when it announced the purchase of 7,420 BTC for $458.2 million, bringing its holdings of BTC to 252,220, with a total value of $9.9 billion and an average price of $39,266 per coin. At the current price of about $72,000, the company's BTC holdings are worth more than $18 billion. At the end of the quarter, the company had $891.3 million remaining after its last funding round. MicroStrategy also raised its target range for its “BTC yield” to 6%-10% from a previous range of 4%-8%. The BTC yield was created by Saylor and his team, and MSTR considers it a key performance indicator (KPI) to describe how well the company is acquiring BTC in an accretive manner. MicroStrategy shares fell 10% in after-hours trading, but are still up about 250% year to date. (CoinDesk)