MicroStrategy has once again increased its Bitcoin reserve with 2,500 new BTCs purchased recently. At the same time, the company made a small sale for tax optimization reasons.
MicroStrategy increases its reserve of Bitcoin (BTC) again
Yesterday, Michael Saylor, the founder of MicroStrategy, announced that his company had started accumulating Bitcoin again. by disclosing the purchase of 2,500 new BTC :
MicroStrategy has increased its #Bitcoin Inventory with ~2,500 #BTC. Per 27/12/22 @Microstrategy holds ~132,500 bitcoin acquired for ~$4.03 billion at an average price of ~$30,397 per bitcoin. $MSTRhttps://t.co/lcMeULcGQk
— Michael Saylor⚡️ (@saylor) 28 December 2022
This is a remarkable announcement that the company had not redeemed since the period 2 August to 19 September, where she had accumulated 301 bitcoins. The company is thus sending a strong signal to the market, as the price of the asset at the time of writing is hovering around $16,550 per share.
Nowadays, MicroStrategy has therefore built up a reserve of approximately 132,500 BTCwhich represents 0.69% of the amount already discharged.
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An initial sale of BTC for tax optimization
This new investment statement is also accompanied by the very first sale of MicroStrategy. In fact, the company sold exactly 704 bitcoins on December 22 for $11.8 million. The purpose of this operation is to register a deficit in relation to the purchase price, with a view to achieving tax optimization.
At the same time, the company bought back 810 BTC on December 24 and another 2,395 on December 28, giving it to the positive balance of 2501 bitcoins referred to today. Despite the sale, the words of Michael Saylor, who claimed not to sell anything, are thus not questioned.
Total, this Bitcoin storage cost MicroStrategy $4.03 billion, an average unit price of $30,397. This therefore means that the company suffers an unrealized loss of just over 46%. Nevertheless, this renewed interest in the current market price after a slowdown in investment in recent months can be seen as reassuring in the long term.
👉 Also in the news – The price of Bitcoin (BTC) mining machines fell 80%
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