MicroStrategy has announced its third quarter financial results on Wednesday. The company saw a 5.1% increase in its “BTC Yield” and revealed plans to raise $42 billion in capital.
This initiative, called the “21/21 Plan,” aims to raise $42 billion over the next three years. The capital will be split evenly between equity and fixed-income securities, which will support MicroStrategy’s goal of acquiring more Bitcoin for its treasury reserves.
At the time of the announcement, MicroStrategy’s market capitalization was $50.1 billion according to data from Yahoo Finance.
As of Sept. 30, the company held approximately 252,220 Bitcoins with a value of $16 billion. Its year-to-date BTC Yield was 17.8%, which is used to assess the performance of its Bitcoin strategy.
In the third quarter, MicroStrategy successfully raised $2.1 billion through equity and debt, increased its Bitcoin holdings by 11%, and lowered its annual interest expenses by $24 million.
