MicroStrategy Adds 2,500 Bitcoin To Holdings Despite Tax-Loss Harvesting

• Michael Saylor’s MicroStrategy bought 2,395 BTC for $42.8 cardinal successful currency betwixt Nov. 1 and Dec. 21, 2022.
• It past sold 704 BTC astatine a nonaccomplishment connected Dec. 22 to offset erstwhile superior gains.
• MicroStrategy past bought 810 BTC connected Dec. 24.

Software analytics institution MicroStrategy has sold bitcoin for the archetypal clip since it archetypal began adding the integer currency to its treasury successful 2020.

The merchantability took spot connected December 22, 2022, according to a filing with the U.S. Securities and Exchange Commission (SEC). The determination was carried retired successful bid to make a nett taxation benefit, arsenic the losses progressive successful the merchantability are capable to offset erstwhile superior gains, per the filing. Two days later, MicroStrategy bought backmost much bitcoin than it sold, nevertheless astatine a higher terms –– $16,845 per BTC connected the 810 bitcoin acquisition vs. $16,776 connected the 704 bitcoin sale.

A larger acquisition preceded the sale. MicroStrategy bought 2,395 bitcoin betwixt November 1 and December 21, 2022, earlier embarking connected the tax-loss harvesting strategy. The acquisition outgo astir $42.8 million, translating to an mean terms of $17,871 per bitcoin, inclusive of fees and expenses.

Ultimately, the transactions resulted successful an summation of MicroStrategy’s bitcoin holdings by 2,500 BTC. The institution led by Michael Saylor present holds 132,500 BTC, acquired for astir $4.03 cardinal astatine an mean terms of $30,397 per bitcoin. As a result, the Virginia-based steadfast presently faces an unrealized nonaccomplishment of implicit $1.8 billion.