According to CryptoPotato, MicroStrategy founder Michael Saylor announced that the firm acquired an additional 169 BTC for $11.4 million in July, bringing its total holdings to 226,500 BTC. Despite facing significant impairment losses due to BTC price fluctuations, resulting in a second consecutive quarterly loss, the company remains committed to its bitcoin acquisition strategy. The world's largest corporate holder of BTC now has $14.6 billion worth at current spot prices and aims to acquire more. Total revenues for the second quarter were $111.4 million, a 7.4% decrease from Q2 2023 and lower than analysts' forecasts of $119.3 million. Gross profit came in at $80.5 million. The carrying value of its BTC holdings for the period was $5.68 billion, reflecting cumulative impairment losses of $2.64 billion. The original cost basis was $8.33 billion, with the average cost per bitcoin at $36,798. MicroStrategy President and CEO Phong Le stated that the firm's holdings were valued at “70% higher than our cost basis” and emphasized the company's focus on its Bitcoin development strategy. The firm introduced a new Key Performance Indicator (KPI) called 'BTC Yield,' targeting an annual yield of 4-8% over the next three years. The KPI represents the percentage change period-to-period of the ratio between the firm's BTC holdings and its Assumed Diluted Shares Outstanding. The 2024 BTC Yield is 12.2% year-to-date, and the company aims for an annual BTC Yield of 4-8% from 2025-2027. Additionally, MicroStrategy raised $800 million through 2.25% convertible senior notes due 2032 and redeemed $650 million convertible senior notes due 2025. Chief Financial Officer Andrew Kang announced an equity offering, stating, “We continue to closely manage our equity capital and are filing a registration statement for a new $2 billion at-the-market equity offering program.” In July, Saylor announced a 10-for-1 stock split to make shares more affordable for smaller investors. MicroStrategy shares (MSTR) fell 6% on the day below $1,500 but recovered to settle at $1,569 in after-hours trading.