Michael Saylor Selling $216 Million of Microstrategy’s Shares, Plans to Buy More Bitcoin

Microstrategy’s enforcement chairman, Michael Saylor, is selling $216 cardinal of his company’s shares, according to a filing with the U.S. Securities and Exchange Commission (SEC). The pro-bitcoin enforcement intends to usage immoderate of the proceeds to get further bitcoin for his idiosyncratic holdings.

Michael Saylor Plans to Buy More Bitcoin for Himself

Microstrategy (Nasdaq: MSTR)’s enforcement chairman, Michael Saylor, plans to sell 315,000 shares of his company’s communal banal worthy $216 million, according to a filing with the U.S. Securities and Exchange Commission (SEC) connected Jan. 2.

Microstrategy antecedently disclosed Saylor’s program to merchantability up to 400,000 shares of institution banal implicit 4 months. In its November 10-Q filing with the SEC, the Nasdaq-listed steadfast explained that the pre-arranged 10b5-1 trading plan, triggered by a banal enactment that expires connected April 30, 2024, involves regular income of 5,000 shares contingent connected a minimum terms condition.

During Microstrategy’s Q3 2023 net telephone connected Nov. 2, 2023, Saylor explained that helium plans to usage immoderate of the proceeds to bargain much bitcoin for his idiosyncratic account.

“I was granted a banal enactment successful 2014 with respect to 400,000 shares, which is going to expire adjacent April if I don’t workout it by then,” the enforcement president began. “For astir a decennary present astatine my request, the institution has lone paid maine a $1 wage and I’ve chosen not to beryllium eligible for immoderate currency bonuses.” Saylor continued:

Exercising this enactment volition let maine to code immoderate fiscal obligations arsenic good arsenic to get further bitcoin for my idiosyncratic account.

While Saylor has not disclosed however overmuch bitcoin helium owns recently, helium said successful October 2020 that helium personally owns 17,732 BTC. Meanwhile, his bundle quality steadfast publically reported holdings of 189,150 bitcoin arsenic of December 2023.

What bash you deliberation astir Microstrategy’s enforcement chairman, Michael Saylor, selling his company’s shares and readying to usage immoderate proceeds to bargain much bitcoin for his ain holdings? Let america cognize successful the comments conception below.