MicroStrategy, the largest corporate holder of Bitcoin, has announced an ambitious plan to raise $42 billion over the next three years to boost its Bitcoin reserves. The plan dubbed the “21/21 Plan,” was outlined during the company’s Q3 2024 earnings call, to raise $21 billion through equity and another $21 billion through fixed-income securities.

This funding is aimed at accelerating Bitcoin acquisition as a Treasury reserve asset, with CEO Phong Le emphasizing the move as part of a broader strategy to enhance shareholder value.

In the third quarter alone, MicroStrategy successfully raised $2.1 billion and increased its Bitcoin holdings by 11%, achieving a year-to-date yield of 17.8% on BTC. The company’s focus on Bitcoin has outpaced growth in its core software business, which showed mixed results: while subscription revenue increased by 32.5%, total revenue dropped by 10.3% year-over-year to $116.1 million.

Despite these challenges, the company’s aggressive Bitcoin strategy has paid off with substantial gains. According to Saylortracker, MicroStrategy’s 252,220 BTC holdings are currently valued at $18.27 billion, reflecting an unrealized profit of $8.3 billion or 83.5%.

Bitcoin Market Today

Bitcoin has broken above $72,000 for the first time since its all-time high, driven by the recent ‘Uptober’ rally that’s finally gaining traction. Interest in spot Bitcoin ETFs is skyrocketing, with $893 million flowing into these funds—marking the second-largest inflow since January and underscoring renewed investor appetite.

With November, historically a bullish month for Bitcoin, now underway, the market is abuzz with anticipation. Many wonder if these factors could propel Bitcoin into a powerful rally, setting new milestones as we head toward the end of the year.

With Bitcoin’s recent price surge to $72,300, the timing of MicroStrategy’s latest move further cements its position as a pioneer in institutional Bitcoin adoption.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed