MicroStrategy Announces $42 Billion Capital Plan to Buy More Bitcoin

MicroStrategy (MSTR) announced on Wednesday that it plans to raise $42 billion over the next 3 years to buy more BTC for its balance sheet and improve “BTC performance” for its shareholders.

In its third-quarter earnings release, the company said the “21/21 Plan” would involve raising $21 billion through ATM equity offerings and $21 billion in fixed-income securities.
As a Bitcoin Treasury Company, we plan to use the additional capital to purchase more bitcoins as a treasury reserve asset in a way that allows us to achieve a higher BTC yield,” said Phong Le, President and CEO of MicroStrategy. The company’s new annual performance targets for BTC have increased between 6% and 10%, achieved by executing these increases and offers at the right time.MicroStrategy also reported an impairment loss of $412 million in the of its digital assets, indicating that it has not yet adopted fair value accounting for its business.MicroStrategy CEO Michael Saylor announced this month that he plans to turn MicroStrategy into a trillion-dollar Bitcoin bank MSTR shares soared to 20-year highs shortly after this promise.(Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive a Exclusive $600 Binance Welcome Offer (Full Details).

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