According to Odaily, MicroStrategy has announced its financial results for the third quarter of 2024. By the end of this quarter, the company held 252,220 BTC, with a year-to-date BTC return rate of 17.8%. Under the leadership of Executive Chairman Michael Saylor, the company has introduced the '21/21 Plan,' which aims to raise $21 billion in equity and $21 billion in debt over the next three years. The additional capital will be used to purchase more BTC as a financial reserve asset to achieve higher BTC returns.
MicroStrategy's most recent BTC purchase was disclosed in mid-September when it announced the acquisition of 7,420 BTC for $458.2 million. This purchase brought the company's total BTC holdings to 252,220 BTC, valued at $9.9 billion, with an average price of $39,266 per BTC. At the current price of approximately $72,000 per BTC, the company's BTC holdings are valued at over $18 billion. As of the end of this quarter, the company had $891.3 million remaining from its last financing round.
Additionally, MicroStrategy has raised its 'BTC Return Rate' target range from the previous 4%-8% to 6%-10%. The BTC Return Rate, created by Saylor and his team, is considered a key performance indicator (KPI) by MSTR, describing the company's performance in acquiring BTC in a value-added manner. Despite a 10% drop in after-hours trading, the company's stock has risen approximately 250% year-to-date.
