MicroStrategy plans to raise $42 billion over the next three years to buy more Bitcoin

BlockBeats news, on October 31, according to CoinDesk, 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.

The company also announced a $42 billion capital plan. The announcement stated that under the leadership of Executive Chairman Michael Saylor, the company will raise $21 billion in equity and issue $21 billion in bonds in the next three years, and use additional capital to purchase more Bitcoin as a financial reserve asset in order to achieve higher BTC returns.

MicroStrategy's most recent disclosure was in mid-September, when the company announced it had purchased 7,420 bitcoins for $458.2 million, bringing its holdings to 252,220 bitcoins, with a total value of $9.9 billion and an average price of $39,266. At the current price of about $72,000, the company's bitcoins are worth more than $18 billion.