A business intelligence firm, and its co-founder michael saylor have been at the forefront of a bitcoin buying spree. on december 22, the company sold 704 btc for approximately $11.8 million. the company has since purchased more btc, with a total of 2,395 btc bought for $42.8 million since november 1, with the total bitcoin holdings now worth over $2.2 billion. washington, d.c., attorney general karl racine has filed civil charges against microstrategy and saylor, which they have disputed.
Buying spree began in 2020, with the company spending approximately $4.03 billion on purchasing bitcoin at a per-coin price of $30,397. microstrategy has also announced its plan to sell up to $500 million worth of class a company stock to fund further bitcoin purchases. they now hold more bitcoin than any other public company, with marathon digital and coinbase combined having less bitcoin than microstrategy.
Company plans to carry back the losses against previous capital gains, which may generate a tax benefit. michael saylor shifted to the role of executive chairman in order to focus on the firm’s “bitcoin acquisition strategy.” phong le is the ceo of microstrategy and a bitcoin maximalist. the value of btc has decreased since the company first started acquiring the cryptocurrency, but they have continued to invest in the cryptocurrency.