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Microstrategy currently holds around 132,500 bitcoins after a recent purchase. This year, the world’s largest cryptocurrency has emerged as an “institutional-level digital asset,” says Microstrategy founder Michael Saylor.
Microstrategy Gets More Bitcoin
Nasdaq-listed Microstrategy Inc. announced Wednesday that it has purchased additional bitcoin for its corporate finances. The company’s founder and executive chairman, Michael Thaler, tweeted on Wednesday:
Microstrategy has increased its Bitcoin holdings by up to 2,500 BTC. As of December 27, 2022, Microstrategy holds 132,500 Bitcoins acquired for $4.03 billion with an average price per Bitcoin of $30,397.
Microstrategy has disclosed in filings with the U.S. Securities and Exchange Commission (SEC) that between November 1 and December 24, 2,500 coins were acquired by its wholly owned subsidiary Macrostrategy. did.
The subsidiary purchased approximately 2,395 BTC at an average price of $17,871 per coin between November 1st and December 21st. Then, on December 22nd, he sold around 704 BTC at $16,776 per coin. December 24th. At the time of writing, Bitcoin is trading at $16,656.80.
The December Bitcoin sale was the first time Microstrategy has sold Bitcoin since it began accumulating cryptocurrencies for corporate finances in 2020. “MicroStrategy plans to carry back capital losses resulting from this transaction against prior capital gains to the extent that such carrybacks are available under federal income tax law currently in force and is subject to the tax system. It could generate upside returns,” the SEC filing explains.
Thaler said in an interview last week:
The most positive thing about this year is the emergence of Bitcoin as an institution-level digital asset and the clarity that there is one digital commodity, the crypto asset… Bitcoin is that commodity.
The executive said both the chair of the SEC and the chair of the Commodity Futures Trading Commission (CFTC) have confirmed that Bitcoin is a commodity.
Thaler previously explained that MicroStrategy invests in BTC for the “long term.” He added: So we are very patient. We believe it’s the future of money. ”
What are your thoughts on Microstrategy increasing its Bitcoin holdings to 132,500 BTC? Let us know in the comments section below.
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