Benzinga - Software company MicroStrategy Inc (NASDAQ: MSTR), known for being the largest corporate holder of Bitcoin (CRYPTO: BTC), has revealed additional purchases of the digital currency in December.
In an SEC filing on Wednesday, MicroStrategy stated that between the beginning of November and Dec. 21, the company purchased around 2,395 Bitcoin for approximately $42.8 million in cash.
The company paid an average of $17,871 per token for this cache.
On Dec. 22, MicroStrategy sold 704 Bitcoin for a total of approximately $11.8 million at a price of $16,776 per coin. The company said the sale was for tax purposes.
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In its SEC filing, the company stated, "MicroStrategy plans to carry back the capital losses resulting from this transaction against previous capital gains, to the extent such carrybacks are available under the federal income tax laws currently in effect, which may generate a tax benefit."
On Dec. 24, MicroStrategy purchased an additional 810 Bitcoin, paying $13.6 million in cash and an average price of about $16,845 per coin.
As of Dec. 27, MicroStrategy held around 132,500 Bitcoin, totaling more than $4 billion.
The company paid an average of $30,397 for each Bitcoin.
Bitcoin was trading at around $16,650 on Wednesday, down more than 60% for the year and on pace for one of its worst yearly stretches ever.
Over the past years, MicroStrategy has gained a reputation for its Bitcoin acquisitions, partly due to the leadership of its former CEO, Michael Saylor, who is now the company's executive chairman and in charge of its Bitcoin strategy.
The company's shares were down 3.63% at $142.38 on Wednesday morning, bringing its year-to-date decline to over 74%.
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