- MicroStrategy moved 1.652K Bitcoin to an anonymous wallet in the past day.
- The firm recently unveiled its BTC Treasury plans along with its Q3 report.
A weekend lull has begun to spread over the crypto market after a week-long action. On turning towards the cryptocurrency price, this can be seen reflected in several digital assets’ mild price movements. Amid these instances, the MicroStrategy firm has garnered market attention with its recent Bitcoin movements.
According to LookOnChain reports, MicroStrategy transferred 1.652K Bitcoins to an anonymous wallet identified with the address – “bc1q3”. The tokens worth $114.38 million were the first movement after the firm announced its Bitcoin treasury plans. Previously, 2 days ago, it received a total of 4.167K Bitcoin worth $2943 million.
Additionally, the digital asset firm has a total holdings of 77.644K Bitcoins as per Arkham Intelligence data. MicroStrategy also recently released its Q3 reports along with which it unveiled its aforementioned Bitcoin Treasury Plans.
Phong Le, the CEO of MicroStrategy stated in the announcement:
“Our focus remains to increase value generated to our shareholders by leveraging the digital transformation of capital. Today, we are announcing a strategic goal of raising $42 billion of capital over the next 3 years”
As stated by the Executive Officer, the company plans to accumulate $42 billion worth of Bitcoin in the coming years. Out of which they plan to allocate $21 billion for equity and $21 billion of fixed income securities. It plans to use additional funds to buy Bitcoin as well.
How Has MicroStrategy Progressed Toward Bitcoin Accumulation?
According to the firm’s Q3 report, it has seen a year-to-date BTC yield of 17.8%. It further plans to increase this rate to an annual yield of 6% to 10% between the years 2025 to 2027. Additionally, the firm’s total Q3 revenue was reported to be $116.1 million.
Moreover, MicroStrategy has made several advancements in the past few months that depicts its progress towards Bitcoin accumulations. The firm founder Michael Saylor recently announced the aim to develop MicroStrategy to be the largest Bitcoin bank. Additionally, the firm has also been making several BTC purchases in the last few months.
Recently, the firm’s leveraged ETF has hit $1 billion in AUM amid the Bitcoin price surge, on October 29.
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