Analysis

MicroStrategy Rolls Out New $42,000,000,000 Capital Fundraising Plan To Purchase More Bitcoin (BTC)

Published

1 year ago

November 1, 2024

The most important company holder of Bitcoin (BTC) simply introduced a brand new $42 billion plan to build up extra of the flagship digital asset.

In a brand new press launch, MicroStrategy President and CEO Phong Le say The corporate’s “21/21 Plan” goals to lift $21 billion in equities and $21 billion in fastened earnings over the following three years.

“Our focus stays on rising the worth generated for our shareholders by leveraging the digital transformation of capital…. As a Bitcoin Treasury Firm, we plan to make use of the extra capital to buy extra Bitcoin as treasury reserves in a fashion that may enable us to attain larger BTC returns.”

MicroStrategy’s year-to-date BTC return – the corporate’s key efficiency indicator for assessing the efficiency of its Bitcoin acquisition technique – stands at 17.8%. The corporate says it’s revising its long-term goal to attain BTC returns of 6% to 10% per yr between 2025 and 2027.

MicroStrategy has a market capitalization of $49.54 billion, that means the $42 billion it plans to spend on buying Bitcoin represents nearly 85% of its market worth.

As of September 30, the corporate owns roughly 252,220 BTC price $16.007 billion. MicroStrategy bought the crypto property for $9.904 billion, or for a median price of roughly $39,266 per Bitcoin.

The highest crypto asset by market cap is buying and selling at $70,124 on the time of writing, down marginally over the previous 24 hours.

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