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Saturday, January 28, 2023
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    HomeBitcoinMicroStrategy buys another $56.4 million worth of Bitcoin

    MicroStrategy buys another $56.4 million worth of Bitcoin

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    • MicroStrategy reportedly purchased roughly 2,500 BTC between 1 November and 24 December, 2022.
    • The corporate now holds 132,500 BTC acquired for about $4.03 billion.
    • MicroStrategy did nevertheless promote 704 BTC for $11.8 million on 22 December for what it termed as tax advantages.

    MicroStrategy, a publicly traded firm that’s the world’s largest company holder of Bitcoin, has reported shopping for extra of the flagship cryptocurrency even because the market hit turbulence starting early November.

    As per the filing submitted on 28 December to the US Securities and Alternate Fee (SEC), MicroStrategy says it bought an extra 2,500 bitcoins between 1 November and 24 December, 2022. 

    Altogether, the software program analytics and enterprise intelligence agency bought Bitcoin value roughly $56.4 million in almost two months and $4.03 billion in whole.

    MicroStrategy now holds 132, 500 bitcoins

    As crypto navigated the turmoil attributable to FTX’s collapse that had crypto worth tapping new multi-year lows, MicroStrategy noticed a chance to buy Bitcoin. In brief, the corporate added 2,395 bitcoins value $42.8 million to its holdings between 1 November and 21 December, 2022.

    The overall BTC acquisition on this interval value the agency $42.8 million at a mean buy worth of $17,871 per coin.

    On 22 December, 2022, MicroStrategy bought 704 bitcoins for $11.8 million. In keeping with the corporate, the sale was at a mean worth of $16,776 per coin. Though the sale was at a loss, the corporate plans to offset the capital losses in opposition to capital features made earlier.

    Regardless of the BTC sale, MicroStrategy went to the market once more on 24 December 2022. It purchased one other 810 bitcoins at a mean worth of $16,845 and for a complete outlay of $13.6 million. By 27 December 2022, the corporate had added 2,500 bitcoins at a complete value of $56.4 million. 

    As of this report, MicroStrategy had elevated its Bitcoin holdings from 130,000 BTC on the finish of October to 132,500 bitcoins by 27 December, 2022.

    The current purchases means MicroStrategy has spent $4.03 billion on buying BTC since its first buy in 2020. The cash’ common buy worth presently stands at $30,397 per bitcoin. 



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