MicroStrategy Shares Worth $216 Million Will Be Sold By Michael Saylor By April This Year

Key Points:

• Michael Saylor is selling $216 million in MicroStrategy shares, acquired through stock options, as part of a disclosed plan initiated on November 1, 2023.
• MicroStrategy solidifies its position as the largest publicly-traded holder of Bitcoin, increasing total holdings to over $8 billion through recent purchases.

MicroStrategy Inc.’s co-founder and CEO, Michael Saylor, is set to divest nearly $216 million worth of MicroStrategy shares (MSTR), a move linked to his strategic use of stock options.

The 315,000 shares were acquired through options, part of a plan disclosed by the company on November 1, 2023, and officially documented in a Form 144 SEC filing. This initiative outlines Saylor’s intention to sell up to 400,000 shares between January 2 and April 26, 2024, at a rate of 5,000 shares daily.

MicroStrategy has significantly bolstered its position as the largest publicly-traded holder of Bitcoin, recently surpassing a total cryptocurrency holding value of over $8 billion. This accumulation was achieved through additional purchases in the preceding month, solidifying the company’s commitment to cryptocurrency investments.

According to Bloomberg, in the past year, MicroStrategy shares have experienced an impressive surge, marking a 372% increase. Closing at just over $685 on Tuesday, this represents the highest level since December 2021. The surge in MicroStrategy shares value has been attributed to the broader rally in the cryptocurrency market, particularly the anticipation surrounding the potential approval of the United States’ first spot Bitcoin exchange-traded funds.

Over the last month, MicroStrategy shares have outpaced Bitcoin’s price performance, registering a growth of over 21% compared to Bitcoin’s 14% rise during the same period. This dynamic underscores MicroStrategy’s role as a key player in the evolving landscape of cryptocurrency investments, demonstrating resilience and strategic adaptability in a rapidly changing market.