On the running “tally” of this round of Bitcoin trades, I am currently showing our average purchase price of 8,236 (which includes yesterday’s purchase of 7 @ 7500.) What I have dropped of the reporting above is our sales of 1 with a gain of 1,125 and a gain of 509 on six other units.
Going forward I am going to average those gains into our current average price, this is not accounting gimmickry (you saw the trades) it is done to make our accounting of the current buying campaign more accurate.
Here is how I calculate our hold of 19 units.
Average was 8236
19 x 8236 = 156,484
1 x 1125 = 1125
6 x 509 = 3054
1125 + 3054 = 4179
we now subtract those profits of 4179 from the current total purchase price of 156,484 to come up with a total price purchase of 152,305 and divide that number by 19 to get a new average cost basis of 8,016.
I hope this makes sense, if I have made a math mistake please let me know.
It stands we are long 19 units at an avg of 8,016 and we are looking to sell 7 units at 8750.