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Tag Archives: microstrategy

Court Dismisses Tax Fraud Charges Against Michael Saylor’s MicroStrategy

The Superior Court of the District of Columbia has dismissed a civil complaint against American business intelligence company MicroStrategy, which alleged that the firm helped its co-founder Michael Saylor evade income tax payments. According to a recent filing, Saylor and MicroStrategy filed a motion to dismiss the complaint in October, and the court ruled in favor of the request on February 28. Court Dismisses Civil Complaint Against MicroStrategy Recall that in August, the...

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MicroStrategy Records 8th Consecutive Quarterly Loss After $198M BTC Impairment Charge

American business intelligence company MicroStrategy has recorded another quarterly loss after calculating the value of its Bitcoin portfolio. According to a Bloomberg report, MicroStrategy recorded a net loss of $249.7 million, narrowed down to $21.93 a share, in Q4 2022. The firm’s revenue declined by 1.5% to $132.6 million, going lower than the estimated drop. MicroStrategy Records $198M Impairment Charge  The Virginia-based company incurred an impairment charge of $197.6...

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MicroStrategy Sells Some BTC… Then Turns Around and Buys More

MicroStrategy – the famed software giant turned institutional bitcoin bull – has done something many of us thought it incapable of doing: it’s selling some of its bitcoin. MicroStrategy Sells, Then Buys, BTC MicroStrategy announced it had sold some of its BTC reserves on December 22, 2022. The company says it did so for tax purposes, but that it’s also going to use some of the proceeds to purchase additional bitcoin, suggesting that while executives are arguably trying...

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Group One Acquires 13.5% Options Position in MicroStrategy

Group One – a proprietary trading firm – has purchased options to buy 1.3 million shares of MicroStrategy (MSTR) worth $240 million, per a recent Securities and Exchange Commission (SEC) filing.  As reported by Bloomberg on Tuesday, the purchase would account for a 13.5% stake in MicroStrategy, whose executive chairman is the Bitcoin booster, Michael Saylor.  Group One is a market maker and liquidity provider for U.S. equity options and other securities.  MicroStrategy is an...

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Here’s Why MicroStrategy Sold 704 Bitcoins on December 22

Publicly-traded business intelligence company MicroStrategy revealed that it sold part of its bitcoin stash on December 22 for tax purposes. Although the firm later purchased more bitcoins, the sale defied its promise of never selling any portions of its BTC stash. MicroStrategy Sold BTC for Tax Benefits As reported earlier, MicroStrategy purchased 2,395 bitcoins worth about $42.8 million between November 1, 2022, and December 21, 2022. The company then sold 704 BTC for about...

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MicroStrategy Buys More BTC, FTX Revelations and More Contagion: This Week’s Crypto Recap

The last week of 2022 ends with a bang but not in terms of price action, which remains as dull as possible. However, it was marked by multiple events, so let’s dive in. First things first, Michael Saylor’s MicroStrategy seems far from being done with buying BTC. The company revealed another purchase of more than 2,000 bitcoins, bringing its total to more than 132K. It’s also worth noting, though, that the company also sold around 700 BTC for the first time ever – for tax...

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MicroStrategy to Introduce Bitcoin Lightning Applications Next Year

MicroStrategy’s Executive Chairman – Michael Saylor – said the company intends to roll out Bitcoin Lightning Network-powered solutions and applications next year. The business intelligence firm previously planned to launch an enterprise Lightning Wallet and Lightning servers and was looking to hire a software engineer to be in charge. Presenting the 2023 Plans Saylor revealed the firm’s intentions on Twitter Spaces, saying MicroStrategy is exploring ways to integrate...

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