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Microstrategy Adds 2,500 BTC to Its Holdings, Raising Its Tally to 132,500 BTC

Umair Younas by Umair Younas
December 28, 2022 - 3:18 pm
in adoption news, bitcoin news, sticky
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MicroStrategy said on December 27 that it bought 2,500 BTC, which brings the total number of Bitcoins it owns to about 132,500. The purchase was completed for around $4.03 billion, with the average price of a single Bitcoin being around $30,397 at the acquisition date.

MicroStrategy purchases 2,500 BTC from Nov. 1 to Dec. 24, 2022

MicroStrategy purchased an additional 2,500 BTC between November 1, 2022, and Dec 24, 2022, at a value of $44.6 million. Rather than buying Bitcoins, the company reported to the SEC that it had sold $46.8 million of MSTR shares to potential buyers. So far, MicroStrategy has kept a total of 132,500 BTC, which is currently worth around $4.03 billion. With an average purchase price of $30,397, the company loses more than 45.3 percent of its investment.

This was the company’s first Bitcoin purchase since September 2022, which they rounded to 301 coins. Bitcoin’s value dropped by around 64 percent in 2022, along with the rest of the crypto market, but MicroStrategy remains committed to its long-term investment plan in Bitcoin. Even though MicroStrategy lost $918 million in the second quarter of 2022, the company’s founder and current president, Michael Saylor, stepped down as CEO.

The Rationale for so Many Microstrategy Deals Remains Unexplained

Meanwhile, the most recent deal revealed that the company bought 395 BTC between November 1 and December 21, sold 704 BTC on December 22, and then repurchased 810 BTC on December 24. It’s unclear why so many people are buying and selling MicroStrategy since the price of BTC didn’t change much around the holidays in 2017. The company has informed the SEC that it plans to record the loss from the sale of Bitcoin Cash on its balance sheet to qualify for a tax credit.

Tags: AdoptionBitcoinBTCMicroStrategy
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Umair Younas

Umair Younas

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

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