MicroStrategy Sells 704 Bitcoin (BTC) For The First Time – Crypto News – Crypto News
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MicroStrategy Sells 704 Bitcoin (BTC) For The First Time MicroStrategy Sells 704 Bitcoin (BTC) For The First Time

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MicroStrategy Sells 704 Bitcoin (BTC) For The First Time – Crypto News

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3 years ago

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according to a Filing With the SEC, the crypto-favoring company MicroStrategy has increased its Bitcoin (BTC) holdings by purchasing approximately 2,395 BTC for a total of $42.8 million in cash between November 1 and December 21. This transaction took place through the company’s MacroStrategy subsidiary. However, according to the statement, the company has also parted ways with a small chunk of its Bitcoin assets.

MicroStrategy Sells 704 Bitcoins

The following day, on December 22, the corporation sold approximately 704 bitcoins for a total of $11.8 million, with the expectation that the losses would outweigh prior capital gains. The transaction that could result in a tax benefit took place at an average price of around $16,776 per Bitcoin.

Bitcoin maximalist Michael Saylor made the announcement on Wednesday that MicroStrategy has purchased 2,500 Bitcoins for around $42.8 million.

As things stand, the price of Bitcoin is currently being traded at $16,660. This represents a decrease of 1.09% on the day, with a further decline of 1.10% during the week as per crypto market tracker. CoinMarketCap,

This is a developing story and is being updated frequently.

Also Read: Popular Crypto Influencer Picks His Top 3 Cryptos For 2023 Bull Run

Pratik has been a crypto evangelist since 2016 & been through almost all that crypto has to offer. Be it the ICO boom, bear markets of 2018, Bitcoin halving to till now – he has seen it all.

The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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