Bitcoin

<p><a href="https://www.microstrategy.com/en" rel="noopener noreferrer nofollow">MicroStrategy</a> 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 <a href="https://blockchainreporter.net/tag/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> being around $30,397 at the acquisition date.</p><h2 id="header-0">MicroStrategy purchases 2,500 BTC from Nov. 1 to Dec. 24, 2022</h2><p>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.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/d1f654b88be947f6836c54129bb2cd2a.png" /></p><p>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 <a href="https://blockchainreporter.net/market/" rel="noopener noreferrer nofollow">crypto market</a>, 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.</p><h2 id="header-1">The Rationale for so Many Microstrategy Deals Remains Unexplained</h2><p>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.</p>

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

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