A Dec. 28 filing with the U.S. Securities and Exchange Commission (SEC) indicated the first time the company has sold some of its BTC since adopting the major cryptocurrency as its primary treasury asset.
MicroStrategy caused a stir in the industry in 2021 when it started accumulating large amounts of BTC. And its founder, Michael Saylor, cited the asset as a store of value greater than cash as the main reason for his decision.
Given Saylor’s role as a staunch supporter of Bitcoin over the past two years, MicroStrategy’s decision to sell off some of its BTC has garnered industry-wide attention. However, the company’s filing with the SEC describes a clear intent to generate a tax advantage.