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MicroStrategy sells its first bitcoin after buying more

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Michael Saylor’s MicroStrategy sold 704 bitcoins last week, but also bought 2,395 bitcoins over the last couple of months.

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/lcMeULcGQk

— Michael Saylor⚡️ (@saylor) December 28, 2022

MicroStrategy, a business software vendor co-founded by crypto advocate Michael Saylor, has continued to add to its bitcoin (BTC) holdings, purchasing approximately 2,395 bitcoins for $42.8 million between November 1 and December 21 through its MacroStrategy subsidiary. 

Very first sale of bitcoins

However, for the very first time, the company did sell around 704 bitcoins for $11.8 million last Thursday, but it was made clear that this was in order to offset previous capital gains. 

On Saturday, the company then acquired an additional 810 bitcoins for $13.6 million, bringing its total holdings up to 132,500 bitcoins, worth approximately $2.25 billion at current prices, compared to the company’s acquisition cost of $4 billion. 

This marks the first time that MicroStrategy has sold bitcoin since it began acquiring the cryptocurrency in 2020. Overall, since November 1, the company has added approximately 2,501 bitcoins to its holdings, spending a net $44.6 million. 

Shares of MicroStrategy were slightly up in premarket trading, while the price of bitcoin has taken a slight dip to around $16,600 at time of going to press.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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