Press release
MicroStrategy Announces Second Quarter 2024 Financial Results; Now Holds 226,500 BTC
Previously announced 10-for-1 forward stock split effective August 7, 2024 12,222 bitcoins acquired since the beginning of Q2 for $805.2 million, or $65,882
About this update from Strategy Inc
[{"type":"text","content":"\n\nPreviously announced 10-for-1 forward stock split effective August 7, 2024\n\n\n\n12,222 bitcoins acquired since the beginning of Q2 for $805.2 million, or $65,882 per bitcoin\n\n\n\n226,500 bitcoin holdings at a total cost of $8.3 billion, or $36,821 per bitcoin, as of July 31, 2024\n\n\n\n“BTC Yield” (a key performance indicator for our bitcoin strategy) year-to-date of 12.2%\n\n\n\nSubscription Services Revenues of $24.1 million, up 21% year-over-year\n\n\n\n TYSONS CORNER, Va.--(BUSINESS WIRE)--\nMicroStrategy® Incorporated (Nasdaq: MSTR) (“MicroStrategy” or the “Company”), the largest corporate holder of bitcoin and the world’s first bitcoin development company, today announced financial results for the three-month period ended June 30, 2024 (the second quarter of its 2024 fiscal year).\n\n\n“After yet another successful quarter for our bitcoin strategy, MicroStrategy today holds 226,500 bitcoins reflecting a current market value 70% higher than our cost basis. We remain laser focused on our Bitcoin development strategy and intend to continue to achieve positive “BTC Yield,” which is a new KPI that we are introducing, targeting 4-8% annually, over each of the next three years. On the adoption front, we are extremely optimistic with the improved understanding of bitcoin and the increasing support for the ecosystem from bipartisan politicians and institutions on display at the Bitcoin 2024 Conference in Nashville. We also continue to see increased global adoption of our cloud-powered BI and AI software, achieving another quarter of strong double-digit growth in both subscription revenue and subscription billings,” said Phong Le, President and Chief Executive Officer, MicroStrategy.\n\n\n“In Q2, we successfully raised an additional $800 million through our offering of 2.25% convertible senior notes due 2032 and called for redemption our $650 million convertible senior notes due 2025. Since the beginning of Q2, we grew our bitcoin holdings by adding 12,222 bitcoins through proceeds from our capital markets activities and excess cash. Additionally, we announced a 10-for-1 stock split earlier this month. We continue to closely manage our equity capital, and are filing a registration statement for a new $2 billion at-the-market equity offering program. Through our use of intelligent leverage, we have again achieved a “BTC Yiel...