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MicroStrategy Sells Bitcoin For The First Time

MicroStrategy sold bitcoin (BTC) for the first time since it began its policy of buying the cryptocurrency in 2020.

The company itself reported the sale of some 704 BTC, through its filing with the U.S. Securities and Exchange Commission (SEC) released this Wednesday, December 28.

The sale occurred last Thursday, December 22. It was made for about 11.8 million dollars, at an average price of 16,776 dollars per BTC, according to the same document.

This sale was made with the purpose of reducing the taxes that the company must pay. Basically, they achieved this by selling at a loss, which can offset previous capital gains associated with their BTC activities.

MicroStrategy before the SEC

While there may be speculation about the company’s financial position in the wake of this sale, MicroStrategy’s BTC fund grew between November and December. In total, the increase in that fund was approximately 2,500 bitcoins added, despite the sale.

MicroStrategy, in the same document, exposes having bought more than 3,000 BTC at two different times. Before selling the 704 bitcoins, they had already acquired some 2,395 bitcoins at an average price of $17,871; then, it bought another 810 BTC at an average of $16,845 per unit.

MicroStrategy is the public company with the most bitcoin in the world

As we have reported before, MicroStrategy has been in bitcoin accumulator mode since 2020. Its former CEO and founder, Michael Saylor, has been vocal about his bitcoiner bet and since then the company hasn’t stopped.

As of today, it is the most publicly traded company with the most BTC on the planet. With the 2,500 BTC or so they added in the last few weeks, their fund now stands at about 132,500 BTC (0.61% of the total BTC that could be in circulation).

Bitcoin Bitcoin $62,070.81
+2.34%
MicroStrategy SEC Bitcoin
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