MicroStrategy sold Bitcoin for first time, but adds additional 2,500 BTC before year-end

in #microstrategy2 years ago (edited)

Image Source

The Bitcoin whale giant revealed that it dumped some of its coins last week before buying more. MicroStrategy currently holds about 132,500 BTC.

The enterprise software company led by Bitcoin enthusiast Michael Saylor announced Wednesday an additional acquisition of approximately 2,395 bitcoins (BTC) worth USD $42.8 million. The purchase was made between Nov. 1 and Dec. 21 through its subsidiary MacroStrategy, according to a filing with the U.S. Securities and Exchange Commission (SEC).

In addition to the acquisition, the company also revealed that it disposed of a portion of its massive holdings of the cryptocurrency in the middle of this month. MicroStrategy sold approximately 704 bitcoins for UDS $11.8 million on Dec. 22, marking the first time the company has sold its bitcoins since it began adding the cryptocurrency to its reserves in 2020.

While it settled at a loss, the company explained in the filing that it conducted the transaction in order to generate a net tax benefit, as the losses involved in the sale can offset previous capital gains.

Coin Marketplace

STEEM 0.18
TRX 0.14
JST 0.030
BTC 60238.27
ETH 3215.90
USDT 1.00
SBD 2.46