The largest corporate holder of Bitcoin (BTC) just announced a new $42 billion plan to accumulate more of the flagship digital asset.
In a new press release, MicroStrategy President and CEO Phong Le say The company’s “21/21 Plan” aims to raise $21 billion in equities and $21 billion in fixed income over the next three years.
“Our focus remains on increasing the value generated for our shareholders by leveraging the digital transformation of capital…. As a Bitcoin Treasury Company, we plan to use the additional capital to purchase more Bitcoin as treasury reserves in a manner that will allow us to achieve higher BTC returns.”
MicroStrategy’s year-to-date BTC return – the company’s key performance indicator for assessing the performance of its Bitcoin acquisition strategy – stands at 17.8%. The company says it is revising its long-term target to achieve BTC returns of 6% to 10% per year between 2025 and 2027.
MicroStrategy has a market capitalization of $49.54 billion, meaning the $42 billion it plans to spend on purchasing Bitcoin represents almost 85% of its market value.
As of September 30, the company owns approximately 252,220 BTC worth $16.007 billion. MicroStrategy purchased the crypto assets for $9.904 billion, or for an average cost of approximately $39,266 per Bitcoin.
The top crypto asset by market cap is trading at $70,124 at the time of writing, down marginally over the past 24 hours.
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Generated image: Midjourney
