TechFlow reports that MicroStrategy has released its second-quarter financial results for fiscal year 2024. The report shows that as of July 31, 2024, the company held 226,500 bitcoins with a total cost of $8.3 billion, averaging $36,821 per bitcoin.
Since the beginning of the second quarter, the company has acquired an additional 12,222 bitcoins at a total cost of $805.2 million, averaging $65,882 per bitcoin. In July, it purchased 169 BTC (worth approximately $11.4 million).
The company's year-to-date "BTC yield" (a key performance metric for its Bitcoin strategy) reached 12.2%. Subscription service revenue amounted to $24.1 million, up 21% year-over-year.
Phong Le, President and CEO of MicroStrategy, stated that the current market value of the company’s Bitcoin holdings exceeds their cost basis by 70%. He added that the company will continue focusing on its Bitcoin-focused growth strategy, aiming to achieve a 4–8% "BTC yield" annually over the next three years. CFO Andrew Kang added that the company is applying for a new $2 billion at-the-market (ATM) stock offering program, and through the use of intelligent leverage, has already achieved a 12.2% BTC yield year-to-date.
In addition, MicroStrategy’s previously announced 10-for-1 stock split will take effect on August 7. The split will be distributed in the form of a stock dividend, expected to be allocated after market close on August 7, with trading resuming on a split-adjusted basis when markets open on August 8.
