BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Everything You Need to Know About MicroStrategy’s $42 Billion Bitcoin Plan Announcement

by Sham
October 30, 2024
in Business, Crypto, Featured, Finance
A A
Everything You Need to Know About MicroStrategy’s $42 Billion Bitcoin Plan Announcement
3
SHARES
Share on TwitterShare on Reddit

• MicroStrategy announced third quarter 2024 financial results and a $42 billion capital plan to acquire more bitcoin
• The company is launching a $21 billion at-the-market equity offering and aims to raise another $21 billion through fixed-income securities
• MicroStrategy revised its annual bitcoin acquisition target to 6-10% for 2025 through 2027

MicroStrategy Incorporated announced financial results for the third quarter of 2024 and a new strategic goal of raising $42 billion in capital over the next 3 years. To be exact, $21 billion in equity and $21 billion in fixed income. The capital will be used to acquire more bitcoin as a treasury reserve asset.

The following is a summary version of their latest press release and business statistics.

Q3 2024 Bitcoin Treasury Highlights

BTC Yield KPI

Year-to-date 2024, MicroStrategy’s BTC Yield is 17.8%. The company is revising its long-term target to achieve an annual BTC Yield of 6% to 10% between 2025 and 2027.

JUST IN: MicroStrategy $MSTR announces plans to raise $42 billion over the next 3 years to buy more Bitcoin $BTC 🚀 pic.twitter.com/8aFrHaP2kj

— BlockNews.com (@blocknewsdotcom) October 30, 2024

Digital Assets

As of September 30, 2024, the carrying value of MicroStrategy’s approximately 252,220 bitcoins was $18.51 billion. The original cost basis was $9.904 billion and the market value was $16.007 billion.

At-the-Market Equity Offering Program

During Q3 2024, MicroStrategy issued and sold 8,048,449 shares of its class A common stock for net proceeds of approximately $1.1 billion.

Issuance of 2028 Convertible Notes

In September 2024, MicroStrategy issued $1.01 billion aggregate principal amount of 0.625% Convertible Senior Notes due 2028.

Redemption of 2028 Senior Secured Notes

On September 26, 2024, MicroStrategy redeemed its 6.125% Senior Secured Notes due 2028 using proceeds from the new convertible notes issuance.

theblock.co

Q3 2024 Software Business Highlights

Revenues

Total Q3 2024 revenues were $116.1 million, a 10.3% decrease year-over-year.

Gross Profit

Gross profit was $81.7 million, representing a 70.4% gross margin compared to 79.4% in Q3 2023.

Other Q3 2024 Financial Highlights

Operating Expenses

Operating expenses were $514.3 million, a 301.6% increase year-over-year, primarily due to impairment losses on digital assets.

Net Loss

Net loss was $340.2 million or $1.72 per share, compared to a net loss of $143.4 million or $1.01 per share in Q3 2023.

Cash Position

As of September 30, 2024, MicroStrategy had $46.3 million of cash and cash equivalents, a decrease of $0.5 million compared to December 31, 2023.

Outlook

MicroStrategy announced a new strategic goal to raise $21 billion in equity and $21 billion in fixed income securities over the next 3 years to acquire more bitcoin. The company believes this strategy will allow it to achieve higher BTC Yield for shareholders.

Tags: BitcoinBTCconvertible senior noteslong-termMicrostrategy
Tweet1ShareShare1

DON'T MISS THESE! HOT OFF THE PRESS

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market
Crypto

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market

June 21, 2025
Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up
Crypto

Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up

June 21, 2025
Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?
Crypto

Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?

June 21, 2025
Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact
Binance BNB

Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact

June 21, 2025
XRP Ledger Shatters Record with 5.1 Million Transactions in a Day
Crypto

XRP Ledger Shatters Record with 5.1 Million Transactions in a Day

June 21, 2025
Ethereum Might Be Way Too Cheap… If Stablecoins Blow Up
Crypto

Ethereum Might Be Way Too Cheap… If Stablecoins Blow Up

June 21, 2025
Load More

Related News

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market

June 21, 2025
Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up

Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up

June 21, 2025
Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?

Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?

June 21, 2025
Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact

Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact

June 21, 2025
XRP Ledger Shatters Record with 5.1 Million Transactions in a Day

XRP Ledger Shatters Record with 5.1 Million Transactions in a Day

June 21, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.