According to TechFlow, MicroStrategy released its second quarter financial report for fiscal year 2024. The report shows that as of July 31, 2024, the company holds 226,500 bitcoins with a total cost of US$8.3 billion and an average cost of US$36,821 per bitcoin.
Since the beginning of the second quarter, the company has added 12,222 bitcoins, spending a total of $805.2 million, with an average cost of $65,882 per bitcoin. In July, it purchased 169 BTC (worth about $11.4 million).
The company's year-to-date "BTC return" (a key performance indicator for its Bitcoin strategy) is 12.2%. Subscription service revenue reached $24.1 million, up 21% year-over-year.
MicroStrategy President and CEO Phong Le said that the company's current Bitcoin market value is 70% higher than the cost. They will continue to focus on the Bitcoin development strategy, aiming to achieve a 4-8% "BTC yield" each year in the next three years. CFO Andrew Kang added that the company is applying for a new $2 billion over-the-counter stock issuance plan, and through the use of smart leverage, it has achieved a 12.2% "BTC yield" so far this year.
In addition, MicroStrategy's previously announced 10-for-1 stock split will take effect on August 7. The split will be in the form of a stock dividend, which is expected to be distributed after the close of trading on August 7 and begin trading on a post-split basis at the opening of trading on August 8.
