MicroStrategy Inc., a Tysons business intelligence software company, has sold a small portion of its bitcoin holdings for the first time. Since purchasing thousands of bitcoins in 2020, the company has yet to sell any of them. According to a document filed Wednesday with the Securities and Exchange Commission, it has done just that, selling 704 bitcoins for $11.8 million in cash through its subsidiary MacroStrategy LLC on December 22. The average price per coin was $16,776 after fees and expenses, which was nearly half the average purchase price of its total bitcoin holdings. Simultaneously, the company announced that it purchased multiple bitcoins in November and December, resulting in a net increase in its holdings. Between November 1 and December 21, it paid $42.8 million in cash for 2,395 bitcoins, or an average price of $17,871 per bitcoin, via MacroStrategy. It also spent $13.6 million through the subsidiary on December 24 to purchase 810 bitcoin at an average price of $16,845 per bitcoin.