The largest corporate owner of Bitcoin reserves in the world, the American software business MicroStrategy, revealed on Wednesday that it traded some of its holdings for the first time ever on December 22.According to a Form 8-K filing on December 28th, MicroStrategy sold bitcoin for the first time, liquidating 704 bitcoin worth $11.8 million at the time of sale.
“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,” the company said in the filing.
However, the company and its renownedly optimistic co-founder Michael Saylor have not abandoned Bitcoin since MicroStrategy has bought more BTC.
According to the document, the company purchased 810 bitcoin on December 24th, adding to the 2,395 bitcoin purchased between Nov. 1 and Dec. 24.
MicroStrategy now owns approximately 132,500 bitcoin at an average cost of $30,397.
(Reporting by Shikha Singh; Editing by Laxmikant Khanvilkar)
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