Gokil! MicroStrategy Buys Bitcoin Again A Total Of 2,500 Coins In Two Months, Total Ownership So 132,500 BTC

JAKARTA MicroStrategy is Michael Saylor's business intelligence and cloud-based software service company. In the last two months, the company has purchased 2,500 Bitcoins (BTC). Purchases began on November 1 and December 24.

That way, MicroStrategy's total BTC coffers to 132,500 Bitcoins. Last November, the crypto market was shocked by the bankruptcy of one of the leading crypto exchanges, FTX. MicroStrategy took advantage of the opportunity to increase its BTC holdings.

The company, which is listed on Nasdaq, announced on Wednesday that it has purchased more bitcoins for its company treasury.

The microstrategy has increased its bitcoin holdings by ~2.500 BTC. On 27/12/22 Microstrategy holds ~132,500 bitcoins obtained for ~$4.03 billion with an average price of ~$30,397 per bitcoin," Michael Saylor wrote in his official announcement, December 28, 2022.

In its filing to the US Securities and Exchange Commission (SEC), Microstrategy clarified that 2,500 coins were obtained between November 1 and December 24 by a wholly owned subsidiary of Macrostrategy.

The subsidiary bought around 2,395 BTC at an average price of 17,871 US dollars per coin between November 1 and December 21. Then sold about 704 BTC at a price of 16,776 US dollars per coin on December 22. MicroStrategy then bought about 810 BTC again at 16,845 dollars per coin on December 24. At the time of writing, bitcoin was trading at 16,656.80 US dollars.

As reported by Bitcoin.com News, bitcoin sales in December marked the first time MicroStrategy has sold its bitcoins since starting to raise BTC for its company treasury in 2020. The company cited tax reasons for selling BTC.

"MicroStrategy plans to bring back capital losses resulting from this transaction against previous capital gains, as far as it brings back what is available under the current federal income tax law, which could result in tax utility," MicroStrategy wrote in filing to the SEC.

On one occasion the founder and CEO of MicroStrategy Michael Saylor explained that Bitcoin is an institutional class digital asset.

"The most positive thing this year is the emergence of bitcoin as an institutional class digital asset and the clarity that... there is one crypto asset that is a digital commodity... Bitcoin is that commodity," Saylor said.

Saylor previously explained that Microstrategy is investing in BTC "for the long term". He added: "Our strategy is to buy bitcoin and hold bitcoin, so there is no target price... I hope bitcoin will reach millions. So, we are very patient. We think this is the future of money."