MicroStrategy Aims to Buy More BTC with Massive $42B Capital Raise

• MicroStrategy aims to expand its Bitcoin holdings further through the “21/21 Plan,” targeting a $42 billion capital raise over the next three years.
• The firm currently holds 252,220 BTC (~$18 billion) and intends to leverage both equity and fixed-income to buy more BTC as a treasury reserve.
• Bitcoin’s price saw a recent rise above $70,000, with trading volume down 39% today, indicating a quieter market after recent gains.

MicroStrategy (NASDAQ: MSTR), a Bitcoin development company is looking to raise even further its BTC holdings over the next few years. 

With its 2023 Q3 report showing an equity and debt raise of $2.1 billion, and a year-to-date BTC Yield raised to 17.8% – MicroStrategy plans on using part of this income to purchase even more Bitcoin. 

Today, the company is already the largest public Bitcoin holder, with over 252,220 BTC( ~$18 billion). The plans to purchase even more digital assets in the coming years, solidify even further MicroStrategy’s commitment to Bitcoin.

Phong Le, President and Chief Executive Officer, announced their strategic goal of raising $42 billion over the next three years. This so-called “21/21 Plan” includes $21 billion of equity and $21 billion of fixed-income securities. As a Bitcoin Treasury Company, they plan to use this capital to buy more Bitcoin as a treasury reserve asset. “This approach will allow us to achieve higher BTC Yield,” he said.

Bitcoin Price Today

On October 30, Bitcoin remained mostly trading sideways from $71,462 at its lowest point and $72,902 at its peak. 

At this time of writing, BTC is up by a modest 0.16% over the past 24 hours, with a daily trading volume of $39 billion – a 39% decrease from the previous day. 

However, this calmness comes only a day after a very profitable day for holders. Yesterday, BTC went up by over 5% in value, climbing above the $70,000 line for the first time since June.