Michael Saylor, co-founder of MicroStrategy Inc., is preparing to sell a large amount of the company’s stock, MSTR, totaling 315,000 shares. The sale of nearly $216 million worth of stock was disclosed through filings on Tuesday, signaling Saylor’s intention to bolster his personal Bitcoin holdings and address pressing financial obligations.
This development follows Saylor’s earlier announcement during the company’s Q3 2023 earnings call, where he outlined his plans to use the proceeds to fuel ambitious personal Bitcoin investments and fulfill imminent financial commitments.
Saylor elaborated on the upcoming stock sale, shedding light on its purpose.
“I was granted stock options in 2014 for 400,000 shares, which will expire in April.”
His plan involves a meticulously calculated strategy, intending to sell 5,000 shares per trading day from January 2nd to April 25th.
The market has responded flexibly to MicroStrategy’s recent trajectory, evidenced by the company’s notable stock surge. Over the past month, MicroStrategy’s stock has impressively risen by 21.65%, closing at $685.15 on Tuesday’s trading session, marking an 8.48% increase in just one day.
MicroStrategy has become a leading publicly-traded Bitcoin-focused company. The company has solidified its position in the cryptocurrency space by amassing an impressive 189,150 BTC, currently valued at $8.55 billion based on current prices. This accumulation was expanded with the recent purchase of 14,620 BTC in December, underscoring MicroStrategy’s commitment to holding digital assets.
