According to a filing with the SEC, the crypto-favoring company MicroStrategy (MSTR) has increased its Bitcoin (BTC) holdings by purchasing approximately 2,395 BTC for a total of $42.8 million in cash between November 1 and December 21. This transaction took place through the company’s MacroStrategy subsidiary. However, according to the statement, the company has also parted ways with a small chunk of its Bitcoin assets.
The following day, on December 22, the corporation sold approximately 704 bitcoin for a total of $11.8 million, with the expectation that the loss will outweigh prior capital gains. The transaction that could result in a tax benefit took place at an average price of around $16,776 per Bitcoin.
As things stand, the price of Bitcoin is presently being traded at $16,660. This represents a decrease of 1.09% on the day, with a further decline of 1.10% during the week as per crypto market tracker CoinMarketCap.
This is a developing story and is being frequently updated.
Also Read: Popular Crypto Influencer Picks His Top 3 Cryptos For 2023 Bull Run
The post Breaking: MicroStrategy Sells 704 Bitcoins (BTC) For First Time Due To This Reason appeared first on CoinGape.
- Mobile app
- Telegram Channel
- Telegram Group
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks