Self-described Bitcoin development company MicroStrategy (MSTR) didn't add to its bitcoin (BTC) holdings since mid-September, but the firm announced an audacious plan to raise $42 billion of capital over the next three years in order to purchase more of the world's largest crypto.
Led by Executive Chairman Michael Saylor, the company's so-called "21/21 Plan" calls for $21 billion of equity raises and $21 billion of debt offerings over the next three years.
"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,” said Phong Le, president and CEO in the third quarter press release.
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