{"id":15924,"date":"2022-12-29T03:56:54","date_gmt":"2022-12-29T03:56:54","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/microstrategy-buys-more-bitcoin-companys-crypto-holdings-grow-to-132500-btc-featured-bitcoin-news\/"},"modified":"2022-12-29T03:56:54","modified_gmt":"2022-12-29T03:56:54","slug":"microstrategy-buys-more-bitcoin-companys-crypto-holdings-grow-to-132500-btc-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/microstrategy-buys-more-bitcoin-companys-crypto-holdings-grow-to-132500-btc-featured-bitcoin-news\/","title":{"rendered":"Microstrategy Buys More Bitcoin \u2014 Company’s Crypto Holdings Grow to 132,500 BTC \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Microstrategy is now holding approximately 132,500 bitcoin following its most recent purchases. This year, the world\u2019s largest cryptocurrency has emerged as \u201cthe institutional-grade digital asset,\u201d said Microstrategy founder Michael Saylor.<\/strong><\/p>\n

Microstrategy Acquires More Bitcoin<\/h2>\n

Nasdaq-listed Microstrategy Inc. announced Wednesday that it has purchased more bitcoin for its corporate treasury. Michael Saylor, the company\u2019s founder and executive chairman, tweeted Wednesday:<\/p>\n

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

In its filing<\/a> 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.<\/p>\n

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

The bitcoin sale in December marked the first time Microstrategy sold its bitcoin since it began accumulating<\/a> the crypto for its corporate treasury in 2020. The company cited tax reasons for selling BTC<\/a>. \u201cMicrostrategy 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,\u201d the SEC filing describes.<\/p>\n

Saylor said in an interview<\/a> last week:<\/p>\n

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The most positive thing of the year is the emergence of bitcoin as the institutional grade digital asset and the clarity that \u2026 there is one crypto asset that\u2019s a digital commodity \u2026 Bitcoin is that commodity.<\/p>\n<\/blockquote>\n

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

Saylor previously explained<\/a> that Microstrategy is investing in BTC<\/a> \u201cfor the long term.\u201d He added: \u201cOur strategy is to buy bitcoin and hold the bitcoin, so there\u2019s no price target \u2026 I expect bitcoin is going to go into the millions. So, we\u2019re very patient. We think it\u2019s the future of money.\u201d<\/p>\n

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bitcoin cftc<\/a>, bitcoin digital commodity<\/a>, bitcoin SEC<\/a>, michael saylor<\/a>, michael saylor bitcoin<\/a>, microstrategy<\/a>, microstrategy bitcoin<\/a>, Microstrategy bitcoin balance sheet<\/a>, microstrategy bitcoin holdings<\/a>, microstrategy buys bitcoin<\/a>, Microstrategy corporate treasury<\/a>, microstrategy crypto<\/a>, microstrategy cryptocurrency<\/a><\/div>\n<\/div>\n

What do you think about Microstrategy growing its bitcoin holdings to 132,500 BTC<\/a>? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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