- MicroStrategy purchased 129,218 Bitcoin in May 2022.
- The firm sold around 704 Bitcoins for tax purposes.
- The firm again acquired 810 Bitcoins in December 2022.
The firm strategy
MicroStrategy Incorporated is an American organization that provides cloud-based services, business intelligence (BI) and mobile software. The firm’s founder and executive chairman, Michael Saylor described why his firm sold a few Bitcoin (BTC) despite earlier, his Chief Financial Officer, Andrew Kang, stating in May 2022, “At this time, we do not have any intention to sell,” reported by The Wall Street Journal.
According to a Wall Street Journal report of May 2022, MicroStrategy bought a total of 129,218 បាន Bitcoin at the price of $30,700 per BTC for about $3.97 Billion on May 2, 2022. The firm denied the request to disclose the information about buying any more BTC after the report was published.
Saylor had discussed the decision to sell Bitcoin in a Twitter Space. He said that the organization enjoyed tax benefits after selling some of the firm’s Bitcoins.
Source: https://www.thecoinrepublic.com/2023/01/03/michael-saylor-discloses-why-microstrategy-sold-over-11-8m-worth-of-btc-toward-the-end-of-2022/