Analysis of MicroStrategy's Recent Bitcoin Transactions

Following the above transactions, MicroStrategy holds ~132,500 BTC as of December 27, 2022. The aggregate purchase price reflects ~$4.03bn at an average price of ~$30,397 / BTC, inclusive of fees and expenses. 

The above chart indicates a 45.6% dislocation from current trading prices and break-even or a $1.8bn loss on their $4.03bn purchase price. In order for MicroStrategy to return to breakeven, Bitcoin's price would need to increase by ~84% as of the time of this writing. To note, the 704 BTC sale's loss will go towards previous capital gains to generate a tax benefit for 2022.