MicroStrategy (Nasdaq: MSTR) announced it is preparing to significantly increase its Bitcoin holdings by raising $2 billion through a new at-the-market equity offering. The announcement came after the market closed on Thursday, following a report of robust Q2 2024 earnings, which showed a substantial increase in the company’s assets.
Currently, MicroStrategy holds 226,500 BTC, which the company acquired at an average price of $36,821 per BTC, costing a total of $8.3 billion. These holdings are now valued at approximately $14.4 billion, reflecting a whopping appreciation in value.
MicroStrategy’s Q2 financials were robust, with the company highlighting a “BTC Yield” of 12.2% year-to-date. This new key performance indicator (KPI) is part of a broader strategy targeting a 4-8% BTC Yield annually over the next three years. The company’s President and CEO, Phong Le, emphasized their ongoing commitment to BTC, noting “an improved understanding of bitcoin and the incr
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