MicroStrategy Announces Plan to Raise $42 Billion to Buy More Bitcoin

MicroStrategy (MSTR) has just announced plans to raise $42 billion over the next 3 years to buy more BTC and improve "BTC yield" for shareholders.

- According to the Q3 financial report, the "21/21" plan will raise $21 billion through issuing shares and $21 billion from fixed income securities.

- Chairman and CEO Phong Le said the company will use this capital to buy more Bitcoin as a reserve asset, aiming for higher BTC yield.

- The company's new annual BTC yield target is increased to 6%-10%.

MicroStrategy also reported a loss of $412 million due to not applying fair value accounting. Chairman Michael Saylor announced that he would turn MicroStrategy into a trillion-dollar Bitcoin bank, sending MSTR stock soaring. 🚀