Michael Saylor · Bitcoin · Strategy · SEC · BitMine Immersion Technologies · Bitcoinist
Bitcoin treasury company Strategy has made its first BTC sale since 2022
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According to an 8-K filing with the US Securities and Exchange Commission (SEC), Strategy made a Bitcoin sale.
Key facts
- The firm spent $63.87 billion to assemble these reserves, putting an average cost basis per coin at $75,699
- Back in December 2022, Strategy sold 704 BTC for tax-loss harvesting as BTC traded at the lowest levels of that year’s bear market
- Bitcoin treasury company Strategy has made its first BTC sale since 2022, putting an end to a 3.5-year phase of only accumulation
- After this new acquisition, the company’s Ethereum reserves have reached the 5.42 million ETH mark, corresponding to 4.49% of the asset’s total supply in circulation
Summary
Bitcoin treasury company Strategy has made its first BTC sale since 2022, putting an end to a 3.5-year phase of only accumulation. Led by Michael Saylor, Strategy has aggressively accumulated Bitcoin in recent years, announcing buys regularly on Mondays. The sale hasn’t come out of the blue. In the SEC filing, Strategy noted that proceeds from the BTC sale are expected to be used to fund distributions, suggesting that it’s the sale Saylor hinted at.