How has Microstrategy responded to steep losses in its Bitcoin holdings? By buying more.
) at an average price of $17,181 for a total of $42.8 million during the period Nov. 1 and Dec. 21. Subsequently, the company sold 704 BTC at $16,776 per coin for a total of $11.8 million on Dec. 22. On Dec. 24, MicroStrategy acquired approximately 810 BTC for $13.6 million in cash, at an average price of $16,845 per coin.earlier this year, MicroStrategy CEO and blockchain personality Michael Saylor told reporters: “We’re only acquiring and holding Bitcoin, right? That's our strategy.
“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.” After the aforementioned transactions, MicroStrategy now holds 132,500 BTC, with an average purchase price of $30,397 and a total book value of $4.03 billion. However, the market value had declined to $2.2 billion at the time of publication.
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