The firm’s Bitcoin assets have lost 45% of their original worth, with an average purchase price of $30,397.
Software analytics company MicroStrategy reported in a recent filing with the US Securities and Exchange Commission that between November 1 and December 21 it purchased 2,395 Bitcoin for a total of $42.8 million at an average price of $17,181. On December 22, the company sold 704 BTC for a total of $11.8 million at a cost of $16,776 per coin. Approximately 810 BTC were purchased by MicroStrategy on December 24 for $13.6 million in cash, or $16,845 per coin.
We’re merely buying and keeping Bitcoin, right? That’s what MicroStrategy CEO and blockchain expert Michael Saylor said to reporters in an earlier-this-year interview with Bloomberg. That is our plan. We are not merchants. The company’s latest publicly publicised BTC sale was disclosed in the Dec. 28 filing. The following was written by MicroStrategy in support of the decision:
“MicroStrategy plans to carry back the capital losses resulting from this transaction against previous capital gains, to the extent such carrybacks are available under the federal income tax laws currently in effect, which may generate a tax benefit.”
On September 9, MicroStrategy previously disclosed that the company would issue or sell common stock worth up to $500 million. Between October 1 and December 27, the business sold 218,575 units, generating a $46.4 million net profit.
MicroStrategy has increased its #Bitcoin Holdings by ~2,500 #BTC. As of 12/27/22 @MicroStrategy holds ~132,500 bitcoin acquired for ~$4.03 billion at an average price of ~$30,397 per bitcoin. $MSTRhttps://t.co/lcMeULcGQkMichael Saylor (@saylor) December 28, 2022