According to a SEC filing, MicroStrategy sold 704 Bitcoin (BTC) for the first time after disclosing a purchase of nearly 2,500 BTC.
MicroStrategy, a cryptocurrency-friendly business, raised its Bitcoin (BTC) holdings between November 1 and December 21 by purchasing roughly 2,395 BTC for a total of $42.8 million in cash, according to a filing with the SEC.
Through the company’s MacroStrategy subsidiary, this deal was made. However, a minor portion of the company’s Bitcoin holdings have also been sold, according to the official release.
The corporation sold roughly 704 Bitcoin the following day, on December 22, for a total of $11.8 million, with the hope that the loss would offset earlier capital gains.
The transaction that could provide a tax benefit happened at a price of roughly $16,776 on average per Bitcoin. On Wednesday, Bitcoin maximalist Michael Saylor announced that MicroStrategy had bought 2,500 Bitcoins for about $42.8 million.
The company has about 132,500 Bitcoins as of December 27th, which were acquired for more than $4 billion at an average cost of $30,397 per coin.The American analytics firm stated in its statement:
“MacroStrategy acquired approximately 810 bitcoins for approximately $13.6 million in cash, at an average price of approximately $16,845 per bitcoin, inclusive of fees and expenses”
MICROSTRATEGY’S CRYPTO RUSH
The company apparently sold $46.4 million worth of shares as of December 28th, in accordance with a previously disclosed plan to sell up to $500 million worth of Class A common stock, which it can use to increase the amount of Bitcoin it owns.
The price of MSTR shares has risen slightly during premarket trading. Additionally, the price of Bitcoin is currently $16,660 as of this writing. According to cryptocurrency market tracker CoinMarketCap, this implies a fall of 1.09% for the day and a further decline of 1.10% for the week.
