2024

Bitcoin

Yield

Billion

Raise

<ul>
 <li>MicroStrategy plans to raise $2 billion to expand its Bitcoin holdings, currently at 226,500 BTC.</li>
 <li>The company remains committed to Bitcoin despite reporting a Q2 loss of $102.6 million.</li>
</ul>
As the world’s first Bitcoin development company, MicroStrategy (Nasdaq: MSTR) is a publicly traded firm dedicated to supporting the Bitcoin network through its work in financial markets, advocacy, and technology innovation.
Following CNF’s latest <a href="https://www.crypto-news-flash.com/microstrategys-bullish-run-stock-beats-bitcoin-with-115-ytd-growth/" rel="noopener noreferrer nofollow">update</a> on MicroStrategy’s Bullish Run: Stock Beats Bitcoin with 115% YTD Growth, MicroStrategy <a href="https://www.microstrategy.com/press/microstrategy-announces-second-quarter-2024-financial-results-now-holds-226-500-btc_08-01-2024" rel="noopener noreferrer nofollow">announced</a> a 10-for-1 stock split and continued its aggressive Bitcoin acquisition strategy, adding 12,222 Bitcoins in the quarter.
This brings their total holdings to 226,500 Bitcoins, acquired at a total cost of $8.3 billion, significantly below their current market value of $14.4 billion. Blockchain researcher Collin Brown noted in a tweet that MicroStrategy reported a Q2 loss of $102.6 million, primarily due to an impairment charge of $180.1 million.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> MicroStrategy reports a Q2 loss of $102.6M and an impairment charge of $180.1M. Despite this, it holds 226,500 BTC, bought at an average of $36,821 each, totaling $8.3B in purchase cost with a current value of $14.4B. The company plans to raise $2B more to expand its Bitcoin… <a href="https://t.co/dFtgzljLfa" rel="noopener noreferrer nofollow">pic.twitter.com/dFtgzljLfa</a>
 — Collin Brown (@CollinBrownXRP) <a href="https://twitter.com/CollinBrownXRP/status/1819220249432236235?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 2, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Despite these losses, the company remains focused on its Bitcoin holdings, which were acquired at an average price of $36,821 each. They introduced a new performance metric, “BTC Yield,” which stood at 12.2% year-to-date, and aim for a 4-8% annual BTC Yield through 2027.
<a href="https://www.crypto-news-flash.com/?s=MicroStrategy#:~:text=MicroStrategy%20Bolsters%20Bitcoin%20Reserves%20with%2011%2C931%20New%20BTC%20Purchase%20to%20226%2C331" rel="noopener noreferrer nofollow">MicroStrategy</a> also raised $800 million through convertible senior notes and is planning a $2 billion equity offering to further expand its Bitcoin holdings. The company’s revenue for Q2 was $111.4 million, a slight decrease from the previous year, offset by a 21% increase in subscription services revenue.
MicroStrategy’s leadership remains optimistic about <a href="https://www.crypto-news-flash.com/microstrategys-bitcoin-buying-spree-continues-plans-to-raise-additional-500m/" rel="noopener noreferrer nofollow">Bitcoin’s adoption</a> and continues to position the company as a leading Bitcoin development firm.
While the company currently holds 226,500 BTC, at the time of writing, According to CoinMarketCap data, BTC is priced at $64,322.58, which surged by 0.03% in the last day and decreased by 4.01% in the past week. See the price chart below.

<div class="cryptoboxes" id="mcw-19491" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="bitcoin" data-symbol="BTC" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="month" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
</div>

MicroStrategy to Raise $2 Billion to Buy More Bitcoin, Currently Holds 226,500 BTC

Crypto News Flash

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