Bitcoin News and Finance
Microstrategy Buys More Bitcoin — Company’s Crypto Holdings Grow to 132,500 BTC Skip to main content

Microstrategy Buys More Bitcoin — Company’s Crypto Holdings Grow to 132,500 BTC

Microstrategy Buys More Bitcoin — Company's Crypto Holdings Grow to 132,500 BTC

Microstrategy is now holding approximately 132,500 bitcoin following its most recent purchases. This year, the world’s largest cryptocurrency has emerged as “the institutional-grade digital asset,” said Microstrategy founder Michael Saylor.

Microstrategy Acquires More Bitcoin

Nasdaq-listed Microstrategy Inc. announced Wednesday that it has purchased more bitcoin for its corporate treasury. Michael Saylor, the company’s founder and executive chairman, tweeted Wednesday:

Microstrategy has increased its bitcoin holdings by ~2,500 BTC. As of 12/27/22 Microstrategy holds ~132,500 bitcoin acquired for ~$4.03 billion at an average price of ~$30,397 per bitcoin.

In its filing with the U.S. Securities and Exchange Commission (SEC), Microstrategy clarified that the 2,500 coins were acquired between Nov. 1 and Dec. 24 by its wholly owned subsidiary Macrostrategy.

The subsidiary bought approximately 2,395 BTC at an average price of $17,871 per coin between Nov. 1 and Dec. 21. It then sold about 704 BTC at $16,776 per coin on Dec. 22. Macrostrategy then bought about 810 more BTC at $16,845 per coin on Dec. 24. At the time of writing, bitcoin is trading at $16,656.80.

The bitcoin sale in December marked the first time Microstrategy sold its bitcoin since it began accumulating the crypto for its corporate treasury in 2020. The company cited tax reasons for selling BTC. “Microstrategy plans to carry back the capital losses resulting from this transaction against previous capital gains, to the extent such carrybacks are available under the federal income tax laws currently in effect, which may generate a tax benefit,” the SEC filing describes.

Saylor said in an interview last week:

The most positive thing of the year is the emergence of bitcoin as the institutional grade digital asset and the clarity that … there is one crypto asset that’s a digital commodity … Bitcoin is that commodity.

The executive noted that both the chairman of the SEC and the chair of the Commodity Futures Trading Commission (CFTC) have confirmed that bitcoin is a commodity.

Saylor previously explained that Microstrategy is investing in BTC “for the long term.” He added: “Our strategy is to buy bitcoin and hold the bitcoin, so there’s no price target … I expect bitcoin is going to go into the millions. So, we’re very patient. We think it’s the future of money.”

What do you think about Microstrategy growing its bitcoin holdings to 132,500 BTC? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory