According to an SEC filing, IT company MicroStrategy (MSTR) added to its bitcoin stockpile by acquiring about 2,395 BTC for $42.8 million in cash between Nov. 1 and Dec. 21 through its MacroStrategy subsidiary.
On December 22, the business sold 704 bitcoin for $11.8 million, assuming that the loss would outweigh prior capital gains.
Following that, on December 24, the business purchased an additional 810 bitcoin for around $13.6 million, increasing its total holdings to 135,000 bitcoin (nearly $2.2 billion at current rates).
The sale on December 22 marks the first time MicroStrategy has sold bitcoin since it began accumulating it in 2020.
In total, the corporation added around 2,501 bitcoin to its holdings, spending a total of $44.6 million.
MSTR shares are slightly higher in premarket trading. Bitcoin’s price has remained stable at around $16,700.
Despite selling bitcoin for the first time to earn a tax benefit, Michael Saylor’s software firm grew its bitcoin holdings by 2,500 BTC.
Between November 1 and December 21, 2022, Michael Saylor’s MicroStrategy paid $42.8 million in cash for 2,395 BTC.
On December 22, it sold 704 BTC at a loss to offset prior capital gains.
On December 24, MicroStrategy purchased 810 BTC.
MicroStrategy, a software analytics business, has sold bitcoin for the first time after introducing the digital currency to its treasury in 2020.
The transaction was preceded by a larger acquisition. MicroStrategy purchased 2,395 bitcoin between November 1 and December 21, 2022, before to launching the tax-loss harvesting plan. The purchase cost around $42.8 million, which equates to an average price of $17,871 per bitcoin after fees and expenditures.
