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MicroStrategy Co-Founder Michael Saylor Plans To Sell Shares Worth $216 Million For Bitcoin Investments

Key Takeaways

Michael Saylor, co-founder and CEO of business intelligence firm MicroStrategy, plans to sell 310,000 company stock option awards worth $216 million to acquire more Bitcoins for his personal account.

The stock options set to expire in 2024 were originally granted to Saylor in 2014.

Despite selling part of his MicroStrategy equity, Saylor maintains a significant stake in the company and remains optimistic about its future.

Personal Sale To Purchase More Bitcoin

According to SEC filings here, Saylor plans to sell up to 5,000 of his MicroStrategy shares per trading day over four months. This could allow him to divest up to 400,000 shares from his vested options.

The proceeds from the sale, which could total $216 million at current share prices, will be used for “personal obligations” and acquiring more Bitcoins for Saylor’s personal account, as he mentioned during MicroStrategy’s third-quarter earnings call.

MicroStrategy’s Growing Bitcoin Holdings

Despite Saylor’s planned share sale, he still maintains a significant equity stake in MicroStrategy and remains confident about the company’s future. Meanwhile, bitcoin’s price recently surpassed $45,000, reflecting a 6.87% increase over the previous week.

MicroStrategy has also been accumulating more Bitcoins, recently acquiring an additional 14,620 coins for $616 million. This brings their total holdings to 189,150 Bitcoins worth over $8 billion, representing around 1% of all Bitcoins in circulation.

This solidifies MicroStrategy’s position as the largest listed corporate holder of Bitcoin. Bitcoin’s network also set a new record on New Year’s Eve with over 731,000 transactions processed in a single day.

Outlook

Saylor’s planned stock sale demonstrates his continued commitment to accumulating more Bitcoins for his personal account, despite also acknowledging MicroStrategy’s strong growth prospects. With bitcoin’s price hovering above $45,000 and network activity at record highs, the outlook remains positive.

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