MicroStrategy Acquires 2,500 BTC, Now Holds 132,500 BTC

MicroStrategy, a massive American software corporation, recently said that it has spent over $55 million to buy almost 2,500 bitcoins over the preceding two months. Following these purchases, Microstrategy is now holding approximately 132,500 bitcoins.

Specifically, Michael Saylor’s business paid over $42.8 million to buy 2,395 bitcoins. According to a report, the average cost is close to $17,871 per bitcoin if all associated costs are included. Notably, this action was initiated using its totally owned subsidiary.

In the same vein, the company sold around 704 bitcoins and made about $11.8 million in cash. On December 22, 2022, the average price per bitcoin was about $16,776, after fees and costs.

According to the company’s filing, MicroStrategy intends to offset any future capital gains with the capital losses incurred from this deal. To be clear, this only applies if and to the extent that such carrybacks are permitted under the applicable provisions of the federal income tax rules.

MicroStrategy also purchased around 810 bitcoins on December 24, 2022, for about $13.6 million in cash. Overall, this amounted to an average price of almost $16,845 per bitcoin.

This is also in light of the recent Twitter space statement delivered by Michael Saylor. The statement declared that their organization is set to create software systems and services in 2023 utilizing the Bitcoin Lightning Network.

Services for corporate infrastructure and methods for monetizing content are two instances of potential uses. In doing so, the company will be able to provide bitcoin services in addition to its traditional software products.