According to a filing with the Securities and Exchange Commission on Wednesday, MicroStrategy (MSTR) has increased its bitcoin (BTC) stockpile by purchasing roughly 2,395 bitcoins for $42.8 million between November 1 and December 21.
For $11.8 million last Thursday, the business sold 704 bitcoins in the hopes that the resulting loss would cancel out any profits from earlier investments.
— 🥷 Gokhshtein Media (@gokhshteinmedia) December 28, 2022
The following Saturday, the firm spent another $13.6 million to purchase 810 bitcoins, increasing its total holdings to 132,500. Compared to the $4 billion spent to acquire MicroStrategy, it is worth around $2.25 billion at today’s exchange rates.
MicroStrategy began investing in bitcoin in 2020, making its sale this week the first time it has ever sold bitcoin.
Since November 1, the corporation has spent a net of $44.6 million for an additional 2,501 bitcoins.
In premarket trading, shares of MicroStrategy were up slightly, while the price of one bitcoin was relatively stable at around $16,700.