A first Bitcoin sale for Nasdaq-listed MicroStrategy for tax reasons in December.
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MicroStrategy sold 704 Bitcoin in December for tax reasons?

A first Bitcoin sale for Nasdaq-listed MicroStrategy for tax reasons in December.

Indeed, the publisher sold 704 tokens for a total amount of $11.8 million. However, the reason given by the American firm does not reflect a change in its acquisition policy.

Officially, this sale was intended to meet tax requirements. And to be convinced, it is enough to refer to the order book of the company over the months of November and December.

According to a document submitted to the SEC, Microstrategy acquired approximately 2395 BTC during this period through its subsidiary MacroStrategy. For these purchases until December 21, the firm paid nearly $42.8 million.

Microstrategy, no change in our strategy

It is only from December 22, that a part of the tokens was resold. In addition, two days later, the company made a new purchase, 810 digital coins in total. So, despite the first sale, the company is still largely in possession of the tokens.

MicroStrategy plans to carry forward the capital losses from this transaction against previous capital gains,” it said in explaining the December 22 divestiture. The company expects a possible “tax benefit” from the sale.

Despite a battered stock price, like other listed companies exposed to cryptocurrencies, MicroStrategy is not questioning its strategy, driven by founder and former CEO Michael Saylor

In total, the company holds about 132,500 BTC, representing more than $4 billion at current prices. However, the average purchase price is $30,397.

MicroStrategy therefore has a high asset impairment due to the fact that the price of bitcoin will fall by more than 60% in 2022. However, Saylor has always assured that this investment is for the long term.

There is no change in our strategy, which is to buy Bitcoin for the long term,” said Shirish Jajodia, head of investor relations and treasury.

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Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at Trendingcrypto.news magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.

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