MicroStrategy Announces "21/21 Plan" to Raise $42 Billion for More Bitcoin Purchases Over Three Years
MicroStrategy Announces "21/21 Plan" to Raise $42 Billion for More Bitcoin Purchases Over Three YearsOn October 30th, MicroStrategy, the largest corporate holder of Bitcoin, announced a strategic goal to raise $42 billion over the next three years. This includes $21 billion in equity and $21 billion in debt securities, a plan theyve dubbed "21/21
MicroStrategy Announces "21/21 Plan" to Raise $42 Billion for More Bitcoin Purchases Over Three Years
On October 30th, MicroStrategy, the largest corporate holder of Bitcoin, announced a strategic goal to raise $42 billion over the next three years. This includes $21 billion in equity and $21 billion in debt securities, a plan theyve dubbed "21/21."
Phong Le, MicroStrategy's President and CEO, stated, "As a Bitcoin financial company, we intend to use the additional funds to purchase more Bitcoin as our treasury reserve asset. With the additional Bitcoin, we will be able to achieve higher Bitcoin returns."
Le's statement reflects MicroStrategy's unwavering confidence in Bitcoin. The company has been adopting Bitcoin as its primary reserve asset since 2020 and invested $1 billion in Bitcoin earlier this year.
Andrew Kang, MicroStrategy's CFO, revealed that they increased their Bitcoin holdings by 11% this quarter, boosting their year-to-date Bitcoin return to 17.8%.
The "21/21 Plan" will further solidify MicroStrategy's position as the largest Bitcoin holder and signifies the company's ongoing commitment to Bitcoin's future.
The plan has also sparked market interest in MicroStrategy's future trajectory. Some analysts believe it will bolster MicroStrategy's financial strength and establish a more dominant position in the Bitcoin market. However, other analysts caution that the plan carries risks, as Bitcoin price fluctuations could impact MicroStrategy's investment returns.
Regardless, MicroStrategy's "21/21 Plan" demonstrates the company's unwavering belief in Bitcoin and its continued commitment to actively participating in the Bitcoin market's development.
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