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In the backdrop, MicroStrategy has revealed a “21/21 Plan” to invest $42 billion in Bitcoin over three years, signaling confidence in the digital asset’s long-term value.
Bitcoin price remains around $69,560, showing resilience near the crucial 61.8% Fibonacci retracement level at $68,670.
The strategy, detailed in the company’s Q3 2024 earnings, includes $21 billion from equity sales and another $21 billion through fixed-income bonds between 2025 and 2027.
MicroStrategy has announced a bold “21/21 Plan” to raise $42 billion for Bitcoin purchases over the next three years, aiming to solidify its position as the largest publicly traded Bitcoin holder.
CEO Phong Le emphasized the plan’s goal of leveraging Bitcoin as a value hedge. MicroStrategy’s Bitcoin holdings rose by 11% in Q3 alone, and its ongoing acquisitions are likely to boost market sentiment and strengthen investor confidence in Bitcoin.
Recently, MicroStrategy paid off $500 million in debt, freeing its Bitcoin holdings from loan obligations. The company now holds 252,220 BTC, valued at around $16 billion.
The firm highlights that heightened market uncertainty may drive a “debasement trade,” where investors flock to assets like gold and Bitcoin as protection against geopolitical risks and a weakening dollar.
JPMorgan analysts suggest that if Donald Trump wins the next U.S. presidential election, both gold and Bitcoin could see increased demand.