MicroStrategy's Bitcoin move: $42 billion plan.
MicroStrategy announced that it aims to raise $42 billion in funds to increase the number of Bitcoin ($BTC ) it holds.
MicroStrategy announced a new $42 billion capital plan to expand its strategies for Bitcoin investments. Within the scope of this plan, the company aims to increase its Bitcoin holdings by providing half of its capital from stocks and the other half from fixed-income securities.
MicroStrategy announced its third-quarter financial results and stated that Bitcoin returns increased by 5.1 percent during this period. The company's BTC return rate since the beginning of the year was reported as 17.8 percent. This rate is used as a criterion in evaluating the performance of Bitcoin investment strategies. On the other hand, it was reported that MicroStrategy held approximately 252,220 Bitcoins as of September 30.
Within the scope of MicroStrategy's newly announced "21/21 Plan", it is aimed to raise $42 billion in capital in the next three years. This capital will consist of $21 billion in equity and $21 billion in fixed-income securities. The company aims to support its asset management strategy by increasing its Bitcoin reserves with this capital raise.
In the third quarter, MicroStrategy raised $2.1 billion in equity and debt, increased its $BTC holdings by 11 percent, and reduced annual interest expenses by $24 million. However, the company’s total revenue was $116.1 million, about $8 million below expectations.
Total operating expenses for the quarter reached $514.3 million. $412.1 million of these expenses were due to losses on digital assets, and a loss of $432.6 million was incurred from operations. The net loss for the quarter was $340.2 million, or $1.72 per share.
#CryptoDeNostradame #ParrotBambooCrypto