MicroStrategy adds to Bitcoin stake despite steep loss

According to a new filing with the U.S. Securities and Exchange Commission, bundle analytics steadfast MicroStrategy said that it acquired 2,395 Bitcoins (BTC) astatine an mean terms of $17,181 for a full of $42.8 cardinal during the play Nov. 1 and Dec. 21. Subsequent to the development, the institution sold 704 BTC astatine $16,776 per coin for a full of $11.8 cardinal connected Dec. 22. On Dec. 24, MicroStrategy acquired astir 810 BTC for $13.6 cardinal successful cash, astatine an mean terms of $16,845 per coin. 

In a Bloomberg interrogation published earlier this year, CEO and blockchain property Michael Saylor told reporters: "We're lone acquiring and holding Bitcoin, right? That's our strategy. We're not sellers." Today's filing represents the archetypal publically reported BTC merchantability by the steadfast successful caller memory. In supporting the decision, MicroStrategy wrote: 

"MicroStrategy plans to transportation backmost the superior losses resulting from this transaction against erstwhile superior gains, to the grade specified carrybacks are disposable nether the national income taxation laws presently successful effect, which whitethorn make a taxation benefit."

After the aforementioned transactions, MicroStrategy present holds 132,500 BTC with an mean acquisition terms of $30,397 and full publication worth of $4.03 billion. However, their marketplace worth has declined to $2.20 cardinal astatine the clip of publication.

MicroStrategy antecedently disclosed connected Sept. 9 that the institution whitethorn contented oregon merchantability up to $500 cardinal worthy of communal stock. Between Oct. 1 and Dec. 27, the institution sold 218,575 units for full nett proceeds of $46.4 million. Michael Saylor, the firm's CEO, is presently embroiled successful a suit brought by the DC Attorney General connected allegations of taxation evasion.

MicroStrategy has accrued its #Bitcoin Holdings by ~2,500 #BTC. As of 12/27/22 @MicroStrategy holds ~132,500 bitcoin acquired for ~$4.03 cardinal astatine an mean terms of ~$30,397 per bitcoin. $MSTRhttps://t.co/lcMeULcGQk

— Michael Saylor⚡️ (@saylor) December 28, 2022