Additionally, for the first time, the software business sold a tiny quantity of cryptocurrency.
Based on a report with the Securities and Exchange Commission on Wednesday, MicroStrategy (MSTR), a business software provider co-founded by crypto supporter Michael Saylor, has increased its bitcoin (BTC) stock by acquiring around 2,395 bitcoins for $42.8 million between November 1 and December 21 via its MicroStrategy subsidiary.
The corporation sold around 704 bitcoins for $11.8 million on Thursday, based on the assumption that a loss on the transaction would outweigh prior capital gains.
The business purchased a further 810 bitcoins for $13.6 million on Saturday, increasing its total holdings to 132,500. This is worth around $2.25 billion at current pricing, compared to $4 billion for MicroStrategy.
MicroStrategy’s transaction this week marks the first time it has traded bitcoin since it started accumulating the cryptocurrency in 2020.
Since November 1, the corporation has acquired around 2,501 bitcoins, costing $44.6 million.
In premarket trading, shares of MicroStrategy increased modestly, while the bitcoin price remained relatively unchanged at about $16,700.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.