According to a report, MicroStrategy, a leading technology company, has significantly increased its bitcoin holdings. According to a recent filing with the Securities and Exchange Commission (SEC), MicroStrategy purchased approximately 2,395 bitcoins for $42.8 million in cash between November 1 and December 21.
In addition to adding to its bitcoin stockpile, MicroStrategy also decided to sell off a portion of its holdings on December 22. The company sold approximately 704 bitcoins for a total of $11.8 million, citing the need to offset previous capital gains as the reason for the sale.
On December 22, the company made its first sale of bitcoin since beginning to acquire the digital asset in 2020. MicroStrategy sold approximately 2,501 bitcoins in this transaction, netting $44.6 million.
On December 24, MicroStrategy made an even bigger move by acquiring an additional 810 bitcoin worth approximately $13.6 million. This brought the company’s total bitcoin holdings to a staggering 135,000, worth approximately $2.2 billion at current market prices.
However, in premarket trading, shares of MicroStrategy Inc. (MSTR) have slightly increased. Meanwhile, the price of bitcoin has remained relatively stable, hovering just below the $16,700 mark. Despite some fluctuations in the market, both MSTR and bitcoin hold their value well. As a leading provider of business intelligence software, MSTR continues to be a popular choice among investors and businesses.
As more institutions embrace bitcoin and other cryptocurrencies, it will be interesting to see how MicroStrategy’s bitcoin strategy plays out in the coming years. For now, the company is optimistic about the future of cryptocurrencies and is positioning itself to capitalize on its potential growth.
If you want more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
