According to Business Insider, MicroStrategy CEO Michael Saylor started a sell-off in the BTC market. In late 2022 and early 2023, Saylor stressed that the company would stick to the strategy of acquiring and holding bitcoin. However, MicroStrategy sold bitcoin for the first time, Business Insider reported. The firm sold 704 BTC for $11.8 million. According to the company's management, the sales were due to tax issues. MicroStrategy is developing enterprise software and is the net buyer of the first cryptocurrency. Between November 1 and December 21, 2022, the firm acquired 2,395 BTC worth $42.8 million. Two years ago, MicroStrategy became the first public company in the US to acquire and hold bitcoins on its balance sheet. Currently, MicroStrategy is restocking its digital asset reserves and it is borrowing billions of dollars to implement this plan. On December 27, 2022, MicroStrategy had about 132,500 BTC worth $4 billion on its balance sheet.
