The software company also sold a small amount of the cryptocurrency for the first time.
MicroStrategy (MSTR), the business software vendor that was co-founded by crypto proponent Michael Saylor, has added to its bitcoin (BTC) stockpile, purchasing about 2,395 bitcoins for $42.8 million between Nov. 1 and Dec. 21 through its MacroStrategy subsidiary, according to a filing with the Securities and Exchange Commission on Wednesday.
Last Thursday, the company sold about 704 bitcoins for $11.8 million on the premise that a loss on the transaction would offset previous capital gains.
Then on Saturday, the company acquired an additional 810 bitcoins for $13.6 million, bringing its total holdings up to 132,500 bitcoins. That’s worth about $2.25 billion at current prices, compared with MicroStrategy’s acquisition cost of $4 billion.
The sale last week marks the first time MicroStrategy has sold bitcoin since it began acquiring the cryptocurrency in 2020.
In sum, since Nov. 1, the company added about 2,501 bitcoins to its holdings, spending a net $44.6 million.
Shares of MicroStrategy were up marginally in premarket trading, while the price of bitcoin remained little changed at about $16,700.
Source: Crypto Insider