The largest corporate holder of Bitcoin (BTC) just announced a new $42 billion plan to accumulate more of the flagship digital asset. In a new press release, MicroStrategy President and chief executive Phong Le says the company’s “21/21 Plan” aims to raise $21 billion in equity and $21 billion in fixed income securities over the […]
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Crypto commentators are “bullish” on MicroStrategy’s plan, predicting it will propel the company ahead of not just other public firms but countries too.
Michael Saylor’s MicroStrategy is gearing up to raise $42 billion over the next three years to accumulate more Bitcoin, the firm has revealed.
The plan, dubbed the “21/21 plan,” will consist of $21 billion in equity and $21 billion in fixed-income securities over the next three years, according to a statement from MicroStrategy on Oct. 30.
At the time of publication, $42 billion in Bitcoin (BTC) is equivalent to approximately 578,586 BTC, accounting for around 2.7% of the total Bitcoin supply.
Nasdaq-listed Microstrategy acquired 12,222 bitcoins in the second quarter, bringing its total holdings to 226,500 BTC. CEO Phong Le and CFO Andrew Kang expressed optimism about future bitcoin support and emphasized the company’s financial strategies. Despite net losses, Microstrategy remains committed to its bitcoin strategy. Microstrategy Expands Bitcoin Holdings Microstrategy Inc. (Nasdaq: MSTR) reported its […]
MicroStrategy has yet to adopt the new accounting standard that would have taken the billions of dollars in paper gains from Bitcoin’s 65% price rally into account.
MicroStrategy, the largest corporate holder of Bitcoin (BTC), reported a net loss of $53.1 million in the first quarter of 2024, while the firm continued to stack more Bitcoin in April.
The net loss came as the firm recorded a $191.6 million digital asset impairment loss in the quarter, up 10 times from the prior year period. Revenue also fell 5.5% compared to the first quarter of 2023, reaching $115.2 million, according to MicroStrategy’s Q1 results filing.
The firm is, however, yet to adopt the new digital asset fair value accounting standard — which would have taken into account the 65% increase in fair value (or market value) of Bitcoin during the quarter.
Business intelligence firm MicroStrategy continues to solidify its status as the world’s largest corporate holder of Bitcoin (BTC) with its most recent purchase of the flagship digital asset. In a new thread, MicroStrategy founder Michael Saylor says that the company bought an additional 850 BTC for a price of about $37 million in January. The […]
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