MicroStrategy Reports Q3 2024 Financial Results, Increases BTC Holdings

According to Odaily, MicroStrategy has announced its financial results for the third quarter of 2024. By the end of this quarter, the company held 252,220 BTC, with a year-to-date BTC return rate of 17.8%. Under the leadership of Executive Chairman Michael Saylor, the company has introduced the '21/21 Plan,' which aims to raise $21 billion in equity and $21 billion in debt over the next three years. The additional capital will be used to purchase more BTC as a financial reserve asset to achieve higher BTC returns. MicroStrategy's most recent BTC purchase was disclosed in mid-September when it announced the acquisition of 7,420 BTC for $458.2 million. This purchase brought the company's total BTC holdings to 252,220 BTC, valued at $9.9 billion, with an average price of $39,266 per BTC. At the current price of approximately $72,000 per BTC, the company's BTC holdings are valued at over $18 billion. As of the end of this quarter, the company had $891.3 million remaining from its last financing round. Additionally, MicroStrategy has raised its 'BTC Return Rate' target range from the previous 4%-8% to 6%-10%. The BTC Return Rate, created by Saylor and his team, is considered a key performance indicator (KPI) by MSTR, describing the company's performance in acquiring BTC in a value-added manner. Despite a 10% drop in after-hours trading, the company's stock has risen approximately 250% year-to-date.