MicroStrategy Added 2,500 Bitcoins for $45M in Last 2 Months
The software company also sold a small amount of the cryptocurrency for the first time.
Dec 28, 2022 at 1:18 p.m. UTC
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
MicroStrategy (MSTR), the business software vendor that was co-founded by crypto proponent Michael Saylor, has added to its bitcoin (BTC) stockpile, purchasing about 2,395 bitcoins for $42.8 million between Nov. 1 and Dec. 21 through its MacroStrategy subsidiary, according to a filing with the Securities and Exchange Commission on Wednesday.
Last Thursday, the company sold about 704 bitcoins for $11.8 million on the premise that a loss on the transaction would offset previous capital gains.
Then on Saturday, the company acquired an additional 810 bitcoins for $13.6 million, bringing its total holdings up to 132,500 bitcoins. That's worth about $2.25 billion at current prices, compared with MicroStrategy's acquisition cost of $4 billion.
The sale last week marks the first time MicroStrategy has sold bitcoin since it began acquiring the cryptocurrency in 2020.
In sum, since Nov. 1, the company added about 2,501 bitcoins to its holdings, spending a net $44.6 million.
Shares of MicroStrategy were up marginally in premarket trading, while the price of bitcoin remained little changed at about $16,700.
Disclosure
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.
:format(webp)/www.coindesk.com/resizer/fczAGHsWLFXiMV23oZZmkW19Ots=/arc-photo-coindesk/arc2-prod/public/D4HEG34XFVFVJHPXEEJAEFZ3SI.jpg)
Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.