Michael Saylor’s $216 Million Stock Sale Aims To Expand Personal Bitcoin Portfolio
Microstrategy’s executive chairman, Michael Saylor, is taking steps to sell 315,000 shares of the company’s common stock, totaling $216 million, according to a filing with the U.S. Securities and Exchange Commission (SEC) on January 2.
This move follows Saylor’s earlier disclosure of his plan to sell up to 400,000 shares over a four-month period. The outlined 10b5-1 trading plan, activated by a stock option set to expire on April 30, 2024, involves daily sales of 5,000 shares, contingent on a minimum price condition. During Microstrategy’s Q3 2023 earnings call on November 2, Saylor revealed his intention to utilize a portion of the proceeds to acquire additional bitcoin for his personal account, addressing financial obligations and expanding his bitcoin holdings.
While the exact magnitude of Saylor’s current bitcoin holdings remains undisclosed, his commitment to bolstering his personal bitcoin portfolio has been consistent. In October 2020, he publicly shared ownership of 17,732 BTC. Simultaneously, Microstrategy, the software intelligence firm he leads, reported holding 189,150 bitcoin as of December 2023, solidifying the company’s steadfast commitment to cryptocurrency as a strategic asset.
Clever Robot News Desk 5th January 2024
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