A closer look at regulatory filings shared by the company reveals that a total of 704 units of Bitcoin, worth about $11.8 million, were dumped.
MicroStrategy Incorporated (NASDAQ), World’s Most Bullish Bitcoin (BTC) Wall Street Company:
MSTR) announced that he had just increased his Bitcoin holdings by 2,395 units as of Tuesday, December 27.
The digital currency acquisition lasted from November 1 to December 21 of this year, according to regulatory filings issued by the company. The purchase, made through the company’s wholly-owned subsidiary, MacroStrategy LLC, averaged approximately $17,871 per bitcoin, including fees and costs, for a cash value of $42.8 million.
With recent acquisitions, the company’s founder and CEO, Michael Saylor, now owns about 132,500 bitcoins, acquired for about $4.03 billion, with an average price per BTC of about $30,397. I have confirmed that
With recent acquisitions, Michael Saylor’s MicroStrategy is now emerging as the largest public investor in Bitcoin. The takeover hoopla began in August 2020, and despite scrutiny from analysts and observers, the company as a whole hasn’t stopped investing excess liquidity in BTC.
Coingecko’s data shows that with Bitcoin’s price down more than 66% year-to-date, it’s the perfect time for many of his supporters to accumulate digital currency. Based on the economic concept of “buy low, sell high”, MicroStrategy is an example of a company known for buying low.
Acquisition news could affect Bitcoin’s current price action. Bitcoin has recouped most of its losses and is now trading at $16,765.33, down 0.49% over the past 24 hours. Prior to the announcement, BTC was down more than 2%.
Subtle Bitcoin Sale by MicroStrategy Inc
A closer look at regulatory filings shared by the company reveals that a total of 704 units of Bitcoin, worth about $11.8 million, were dumped. As Microstrategy revealed, the Bitcoin sale was necessary to achieve the underlying tax benefits.
“On December 22, 2022, Macro Strategy was able to sell around 704 Bitcoins for approximately $11.8 million in cash. After fees and expenses, the average price per Bitcoin was approximately $16,776. To the extent possible under current federal income tax law, MicroStrategy plans to roll back any capital losses resulting from this transaction against previous capital gains, thereby providing tax benefits. may be obtained.”
The news of the sale and its presentation may not derail the optimism in the minds of many Bitcoin investors and supporters who believe Bitcoin can end the year with a relatively small profit. The company has renewed its commitment to continuously stack #1 coins