Michael Saylor Sells $216M MicroStrategy Stocks for Bitcoin

Saylor has indicated that this decision enables him to meet his "personal obligations" and, naturally, to increase his Bitcoin holdings.

Michael Saylor Sells $216m Microstrategy Stocks For Bitcoin_65d5ce6c2b961.webp

MicroStrategy’s executive chairman, Michael Saylor, has initiated the sale of $216 million worth of his company’s shares over a four-month period. This strategic move, revealed in a filing with the United States Securities and Exchange Commission on January 2, involves the liquidation of 315,000 stock options awarded to Saylor in April 2014, with an expiration date of April 30, 2024.

The sale commenced on the same day, with the initial tranche consisting of 5,000 shares. This decision aligns with Saylor’s earlier announcement during MicroStrategy’s third-quarter earnings call on November 2. In that call, he outlined his intention to steadily sell 5,000 MSTR shares daily over the next four months. The proceeds from this divestment will be directed towards addressing personal obligations, as well as further bolstering Saylor’s Bitcoin holdings.

Michael Saylor Sells $216M MicroStrategy Stocks for Bitcoin

During the call, Saylor emphasized that the execution of these options serves a dual purpose of addressing personal obligations and expanding his personal Bitcoin holdings. Despite the ongoing personal sales, he asserted that his stake in the company’s equity remains “significant.”

According to a November 1 Q-10 filing with the SEC, Saylor is authorized to sell a maximum of 400,000 shares from his vested options between January 2 and April 26 of the current year.

While Bitcoin experienced an impressive 170% surge since the beginning of the previous year, MicroStrategy has surpassed this performance, demonstrating a remarkable 411% gain over the same period, as indicated by TradingView data.

Related: Michael Saylor Predicts Bitcoin ETF Will Drive the Market in 2024

In a notable move on December 27, MicroStrategy acquired an additional 14,620 Bitcoin for $615 million. This strategic purchase elevated MicroStrategy’s total Bitcoin holdings to an astounding 189,150 Bitcoin, valued at approximately $8.5 billion at current market prices.

5.0/5

(100 votes)

Latest

What Is An Ai Agent Top 5 Notable Ai Agent Projects

News | AI | Editor Choice | Newbies

What is an AI Agent? Top 5 Notable AI Agent Projects

AI Agent is an emerging concept that utilizes machine learning and deep learning technologies to develop an automated bot model, assisting users in performing tasks more easily.

Binance Announces Listing Of Velodrome Finance

News | Altcoin | Editor Choice

Binance Announces Listing of Velodrome Finance

The Binance exchange has announced the listing of Velodrome Finance, a DEX on Optimism, at 14:00 (UTC) on December 14, 2024.

Eth Could Surge To $15k As Etf Inflows Hit Record Highs

News | Altcoin | Analytics | Editor Choice

ETH Could Surge to $15K as ETF Inflows Hit Record Highs

Analysts believe Ethereum could rise to $15K, with positive signals from capital flows into ETFs.

Grayscale Establishes Investment Fund For Lido And Optimism

News | Altcoin | Editor Choice

Grayscale Establishes Investment Fund for Lido and Optimism

Grayscale recently announced the establishment of a new investment fund focused on two projects within the Ethereum ecosystem: Lido and Optimism.

How To Participate In The Xterio Airdrop

Airdrops | Editor Choice

How to Participate in the Xterio Airdrop

Join the airdrop hunt for the Xterio project, which has successfully raised $55 million and is currently running the The BeFriend AI Web campaign.