MicroStrategy CEO, Michael Saylor, Reinforces Bitcoin Position by Liquidating $216M Worth of Stocks
Key Takeaways:
– Michael Saylor, executive chairman of MicroStrategy, plans to sell $216 million worth of his company’s shares to invest in Bitcoin.
– He will sell 5,000 shares every day for the next four months, starting on January 2nd.
– MicroStrategy has recently purchased an additional 14,620 Bitcoin, bringing its total holdings to 189,150.
MicroStrategy Chairman Michael Saylor has made a bold and calculated decision to liquidate $216 million worth of his company’s stocks in order to invest in Bitcoin and expand his cryptocurrency portfolio. This strategic plan was revealed in a recent filing with the United States Securities and Exchange Commission (SEC), and will involve the sale of 315,000 stock options granted to Saylor in April 2014. The sales will take place over a four-month period, beginning on January 2nd, and it is worth noting that these options will expire on April 30, 2024.
Saylor has already begun the process by selling the first batch of 5,000 shares as scheduled. During MicroStrategy’s third-quarter earnings call in November, he explained that his plan is to consistently sell 5,000 shares every day for the next four months. This strategy serves two purposes – managing personal commitments and increasing his personal Bitcoin holdings. Despite these substantial sales, Saylor assures that his stake in MicroStrategy remains significant.
The SEC has approved Saylor’s plan to liquidate up to 400,000 of his vested options shares between January 2nd and April 26th of this year, as revealed in a filing dated November 1st. This further supports his strategic move to invest in Bitcoin.
MicroStrategy, known for its impressive growth of 411% in the past year, has recently reaffirmed its commitment to Bitcoin. On December 27th, the company acquired an additional 14,620 Bitcoin, spending $615 million. This purchase brings MicroStrategy’s Bitcoin holdings to a staggering 189,150, which is currently valued at approximately $8.5 billion based on market dynamics.
With Bitcoin trading around $45,250 and showing bullish momentum, there is anticipation in the market for a potential approval of a Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission in the coming weeks. Saylor’s strategic moves and MicroStrategy’s unwavering support for Bitcoin indicate a shifting landscape in the digital asset market, capturing the attention of market participants.