January 3, 2024

MicroStrategy Founder, Michael Saylor, Set to Offload $216 Million in Company Shares

In a recent filing, Michael Saylor revealed plans to sell 315,000 MicroStrategy shares, amounting to approximately $216 million. This move is part of Saylor's strategy to acquire additional bitcoin.

MicroStrategy Inc.'s founder and chairman, Michael Saylor, is initiating the sale of 315,000 company shares (MSTR), totaling nearly $216 million, as indicated in a filing on Tuesday.

During the company's third-quarter earnings call in 2023, Saylor articulated his intention to utilize the proceeds from the share sale for personal bitcoin acquisitions and to manage financial commitments.

Saylor explained:

"I was granted a stock option in 2014 with respect to 400,000 shares, which is going to expire next April."

He further outlined his plan to execute the sale of 5,000 shares per trading day from January 2 to April 25.

MicroStrategy's shares have experienced a notable surge, recording a 21.65% increase in the past month and closing at $685.15 on Tuesday, reflecting an 8.48% rise.

Despite the share sale, MicroStrategy maintains its status as the leading publicly traded corporate holder of bitcoin. The company currently possesses 189,150 BTC, valued at $8.55 billion at current prices, following its recent acquisition of 14,620 BTC in December.

On Tuesday, the world's largest cryptocurrency by market capitalization reached $46,000, marking its highest level since April 2022.

Stay Connected
Join the conversation on 𝕏
@ahapcrypto
Make a Difference
Support our content creators
and help us stay ad-free
BTC: bc1q6nt2u2u539kjgfn5hj8g9f8xk2hnwuudlrlnr9
Cryptocurrency news & learning platform
All Rights Reserved © 2024