"Sell coins for the first time" and buy them back again! MicroStrategy adds a total of 2,500 Bitcoins to its holdings

Michael Saylor, former CEO and Chairman of the Board of Directors of MicroStrategy, said earlier today (28th) that MicroStrategy will increase its holdings of 2,500 more Bitcoins. As of December 27, MicoStrategy and its subsidiaries held approximately 132,500 Bitcoins and spent a total of approximately US$4.03 billion on purchases, with an average cost of US$30,397 per Bitcoin.

However, what is even more surprising is that MicroStrategy, which had previously insisted that it would not sell it even if it was killed, actually sold Bitcoin for the first time through its wholly-owned subsidiary MacroStrategy in order to obtain tax benefits.

According to documents submitted to the U.S. Securities and Exchange Commission (SEC), MacroStrategy sold approximately 704 Bitcoins on December 22 for cash proceeds of approximately US$11.8 million. After deducting fees and expenses, the average selling price was approximately per Bitcoin. Bitcoin $16,776.

MicroStrategy plans to carry forward capital losses arising from this transaction against prior capital gains to the extent that such carryforwards will result in tax benefits under current federal income tax laws.

But two days later, MacroStrategy quickly bought about 810 Bitcoins for about $13.6 million in cash, at an average price of $16,845 per Bitcoin.

In fact, between November 1 and December 21, MacroStrategy bought approximately 2,395 Bitcoins for approximately US$42.8 million in cash, at an average price of US$17,871 per Bitcoin.

In other words, through two purchases and one sale, MacroStrategy accumulated a total of 2,500 Bitcoins, with a net expenditure of $44.6 million.

Currently, MicroStrategy is the listed company that holds the largest number of Bitcoins in the world. It is already well-known in the currency circle as the "big brother" of Bitcoin. Although the cryptocurrency market is in a downturn, the company continues to increase its positions in Bitcoin.

In the past two years, MicroStrategy has done everything possible to raise money to buy Bitcoin. In addition to selling US$1 billion in stocks last June, it also issued US$500 million in "junk bonds." It even used Bitcoin as collateral to obtain a term loan of about US$200 million from banks, and then bought more Bitcoin.

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