MicroStrategy plans to raise $42 billion to buy bitcoins. Technology company MicroStrategy has published its report for the third quarter of 2024. In it, the firm announced plans to raise $42 billion over three years to buy bitcoins.

“As before, we are focused on increasing the value created for our shareholders by leveraging the digital transformation of capital. Therefore, we are announcing a strategic goal of raising capital of $42 billion over the next three years, including $21 billion in equity and $21 billion in fixed income securities... We plan to use the additional capital to purchase more bitcoins as a backup asset.” said MicroStrategy CEO Fong Le.

The report also said that the company raised $2.1 billion in equity and debt capital in the third quarter. In addition, MicroStrategy grew its Bitcoin portfolio by 11% in the quarter, and the annual return on investment in the first cryptocurrency increased to 17.8%.

However, MicroStrategy revised its 2025-2027 target return on bitcoin investments to a range of 6% to 10%.$BTC $USDC $ETH