MicroStrategy’s Michael Saylor Begins Selling Shares, Buying Bitcoin
MicroStrategy executive chairman Michael Saylor has embarked on a major move that involves selling $216 million worth of his shares in the company. This move comes as no surprise, as Saylor had previously mentioned that he would use part of the sale proceeds to purchase more Bitcoin. Saylor is well-known for his bullish stance on the cryptocurrency and has been vocal about his belief in its long-term potential.
The Process: Michael Saylor’s Four-Month Share Sell-off for Bitcoin
In a recent filing with the United States Securities and Exchange Commission (SEC), Saylor revealed that he has already started selling his stock options awards. These options, which were granted to him in April 2014, are set to expire on April 30, 2024. The filing stated that Saylor began the selling process on January 2, with the first tranche consisting of 5,000 shares.
Saylor’s Plan: Selling 5,000 MicroStrategy Shares Daily for Bitcoin
During MicroStrategy’s third-quarter earnings call in November 2023, Saylor outlined his plan to sell 5,000 shares of MicroStrategy (MSTR) daily for the next four months. The proceeds from these sales will be used to address Saylor’s personal obligations and to increase his Bitcoin holdings. Saylor emphasized that despite his personal sales, his stake in the company’s equity remains significant.
Michael Saylor’s Personal Obligations & Bitcoin Accumulation
Saylor’s decision to sell his MicroStrategy shares is motivated by his desire to address personal obligations and to acquire more Bitcoin for his personal account. He sees exercising these options as a means to achieve these goals. Considering Saylor’s unwavering belief in Bitcoin’s potential, it comes as no surprise that he is looking to accumulate more of the cryptocurrency.
MicroStrategy Soars, Outperforming Bitcoin by 411%
While Bitcoin experienced a significant surge of 170% in 2023, MicroStrategy’s performance has been even more impressive. The company’s stock price has soared by 411% over the past year, surpassing the growth rate of Bitcoin. This remarkable performance has bolstered the company’s position and reaffirmed Saylor’s belief in the value of Bitcoin as an investment.
In conclusion, Michael Saylor’s decision to sell his MicroStrategy shares in favor of buying Bitcoin reflects his confidence in the cryptocurrency’s long-term potential. His plan to sell 5,000 shares daily for the next four months underscores his commitment to accumulating more Bitcoin. This move also highlights the remarkable performance of MicroStrategy, which has outperformed Bitcoin by a significant margin. As Saylor continues to navigate the rapidly evolving crypto market, his actions serve as a testament to his unwavering belief in the future of Bitcoin.
Analyst comment
Positive news: Michael Saylor’s decision to sell his MicroStrategy shares and buy Bitcoin reflects his confidence in the cryptocurrency’s long-term potential. This move highlights MicroStrategy’s remarkable performance, outperforming Bitcoin by 411%. Saylor’s plan to sell shares daily for the next four months shows his commitment to accumulating more Bitcoin. Overall, this news suggests a positive outlook for the market, indicating Saylor’s belief in the future of Bitcoin.
