MicroStrategy has spent more than $55 million to buy bitcoins over the past two months, the company said in a filing. It also sold $11.8 million worth of bitcoins at a loss of nearly 50% compared to its average purchase price, according to the filing.
MicroStrategy Inc. MSTR, -3.07% has spent more than $55 million to purchase roughly 2,500 bitcoins over the past two months, the company revealed in a Wednesday filing where it also disclosed selling some of its bitcoin stash for the first time to accrue a tax benefit.
MicroStrategy announced the purchases in two chunks, including 2,395 coins purchased between Nov. 1 and Dec. 21, and another approximately 810 coins purchased on Dec. 24. The coins purchased on Christmas Eve were bought for an average price per coin that was about $1,000 lower than the previous batch.
The company sold 704 bitcoins for $11.8 million, at an average price of approximately $16,776 per bitcoin, according to the filing. That’s a loss of nearly 50% when compared to its average purchase price of just over $30,000 per coin.
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