American software company, MicroStrategy has undoubtedly become one of the most Bitcoin (BTC) bullish firms in the world. The company has announced that it is planning to raise a whopping $42 billion over the next three years solely to invest in the digital gold. Notably, the investment is dependent on whether or not the firm will be able to raise the capital in equity and fixed income securities.
In an announcement made during their Q3 financial report release, the firm said,
“announcing a strategic goal of raising $42 billion of capital over the next 3 years, comprised of $21 billion of equity and $21 billion of fixed income securities, which we refer to as our “21/21 Plan.” As a Bitcoin Treasury Company, we plan to use the additional capital to buy more bitcoin as a treasury reserve asset in a manner that will allow us to achieve higher BTC Yield”
Interestingly, the announcement comes days after the company’s stock price hit a 25-year record high of $236, with a market cap of $47 billion. Several market speculators owing the credit to BTC’s recent surge. Moreover, the company is already one of the largest institutional investors of the digital gold. So far, the firm’s Bitcoin reserves are over 150,000.
The firm has not made any additional Bitcoin purchases since mid-September. The firm last purchased an additional 7,420 BTCs for $458.2 million. Notably, even though MicroStrategy is planning on adding an additional $4 billion worth of Bitcoins to its profile, it’s current BTC holdings is over $18 billion.
The story is still developing…
