MicroStrategy, the largest corporate Bitcoin holder, has announced an ambitious plan to raise $42 billion over the next three years to grow its Bitcoin reserves. Named the “21/21 Plan,” this strategy—outlined in the company’s Q3 2024 earnings call—includes raising $21 billion through equity and an additional $21 billion through fixed-income securities.
This substantial funding effort aligns with MicroStrategy’s goal of holding Bitcoin as a key Treasury reserve asset. CEO Phong Le emphasized that this strategy is part of a broader mission to boost shareholder value by deepening the company’s commitment to Bitcoin.
Here’s a deeper look at their strategy (and gains) below.
In the third quarter alone, MicroStrategy successfully raised $2.1 billion and increased its Bitcoin holdings by 11%, achieving a year-to-date yield of 17.8% on BTC. The company’s focus on Bitcoin has outpaced growth in its core software business, which showed mixed results: while subscription revenue increased by 32.5%, total revenue dropped by 10.3% year-over-year to $116.1 million.
Despite these challenges, the company’s aggressive Bitcoin strategy has paid off with substantial gains. According to Saylortracker, MicroStrategy’s 252,220 BTC holdings are currently valued at $18.27 billion, reflecting an unrealized profit of $8.3 billion or 83.5%.
Bitcoin recently crossed $72,000 for the first time since its all-time high, fueled by a rally dubbed ‘Uptober’ and a rising demand for spot Bitcoin ETFs. The latest data shows a surge of $893 million in ETF inflows—marking the second-largest inflow since January and indicating renewed investor enthusiasm for Bitcoin.
With November—a historically bullish month for Bitcoin—now underway, the market is buzzing with excitement. Many investors are wondering if the current momentum will lead to new Bitcoin milestones as the year wraps up.
With Bitcoin’s recent price surge to $72,300, the timing of MicroStrategy’s latest move further cements its position as a pioneer in institutional Bitcoin adoption.
With every rise in Bitcoin’s value, MicroStrategy’s ambitions grow bolder—will they become the titan of the crypto industry?
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