Michael Saylor Continues to Invest in Bitcoin with $42.8 Million Purchase Through MicroStrategy

cryptonews.com:

Michael Saylor, the founder and former CEO of software firm MicroStrategy, continues to demonstrate a bullish approach to bitcoin (BTC) with his latest investment of about $42.8 million in the top crypto. 

In a recent filing with the Securities and Exchange Commission (SEC), the business disclosed a purchase of about 2,395 bitcoins made with cash, at an average price of some $17,871 per bitcoin, inclusive of fees and expenses.

The firm has also sold some of its crypto assets over the past week with the aim to optimize its taxes, as indicated by the filing. 

“On December 22, 2022, MacroStrategy sold approximately 704 bitcoins for cash proceeds of approximately $11.8 million, at an average price of approximately $16,776 per bitcoin, net of fees and expenses. 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,” the statement said. 

“On December 24, 2022, MacroStrategy acquired approximately 810 bitcoins for approximately $13.6 million in cash, at an average price of approximately $16,845 per bitcoin, inclusive of fees and expenses,” according to the firm.

MicroStrategy said that, following the above-mentioned transactions, the business, together with its offshoots, expanded its bitcoin holdings by 2,500 bitcoins, from about 130,000 bitcoins as of October 31, 2022, to about 132,500 bitcoins as of December 27, 2022. 

“The approximately 132,500 bitcoins held by MicroStrategy and its subsidiaries as of December 27, 2022 were acquired at an aggregate purchase price of approximately $4.03 billion and an average purchase price of