On Wednesday, the company released its third-quarter performance and announced a bold plan: to raise $42 billion over the next three years to purchase more bitcoin. As a commercial intelligence software supplier, the U.S. listed company MicroStrategy is known for being unconventional, as the company has bought a large amount of bitcoin, deeply intertwining the company's fate with bitcoin.

On Wednesday, the company announced its third-quarter performance and revealed a bold plan: to raise $42 billion in funding over the next three years to buy more bitcoin.

Microstrategy announced the so-called "21/21 Plan," which involves $21 billion in equity financing and $21 billion in bond issuance over the next three years.

Microstrategy's President and CEO, Phong Le, explained that this move is to increase the return on the company's bitcoin holdings.

"As a bitcoin financial company, we plan to use additional funds to purchase more bitcoin as financial reserve assets, in order to achieve higher bitcoin yields," Phong Le stated in the third-quarter performance press release.

Microstrategy's most recent disclosed bitcoin shareholding move was in mid-September when the company announced the purchase of 7,420 bitcoins at a price of $0.4582 billion. With this purchase, the company now holds 252,220 bitcoins valued at $9.9 billion, with an average buy price of $39,266. Based on the current price of approximately $0.072 million, the value of the company's holdings exceeds $18 billion.

Microstrategy has also raised the target range of its "bitcoin yield" from the previous 4%-8% to 6%-10%. The "bitcoin yield" created by the company's founder Michael Saylor and his team is seen as a key performance indicator (KPI). In the third quarter, the company's "bitcoin yield" was 17.8%.

MicroStrategy was founded in 1989 and its business involves enterprise software and cloud-based services, but the company's value is now almost entirely tied to bitcoin ownership. MicroStrategy is the largest publicly traded company holding bitcoin, far surpassing companies like Tesla and Block who also invest in bitcoin.

Microstrategy's third-quarter report showed that its main software business revenue was $0.1161 billion, a 10.3% year-on-year decline, below analyst expectations; the company's net loss in the third quarter was $0.34 billion, significantly larger than the $0.14 billion loss in the same period last year, mainly due to the company provisioning $0.412 billion for impairment of its approximately $18 billion bitcoin inventory.

On Wednesday, Microstrategy's stock price temporarily dropped 10% in after-hours trading, but has risen by approximately 260% year-to-date. During the same period, the price of Bitcoin has increased by over 60%.