MicroStrategy Founder Michael Saylor Profits $370 Million Selling Company Stock

Key Points:

• MicroStrategy founder Michael Saylor has sold 370,000 shares, pocketing $370 million from a stock sale agreement initiated last year.
• Saylor’s swift selling comes as MicroStrategy shares surged over 90% this year, fueled by its substantial Bitcoin holdings and strategic shift towards cryptocurrencies.
• MicroStrategy recently announced a $525 million convertible debt offering to further bolster its Bitcoin stack.

According to CNBC, MicroStrategy founder Michael Saylor has capitalized on a stock sale agreement with the company, pocketing approximately $370 million from the sale of 370,000 shares.

MicroStrategy Founder Sells Company’s Shares, Nets $370 Million

The agreement, initiated last year, allowed the MicroStrategy founder to sell up to 400,000 shares before April this year. With over 90% of the plan now executed, Saylor has reaped significant gains, propelled by MicroStrategy‘s substantial ascent, effectively a Bitcoin holding company.

Despite a recent retreat in MicroStrategy shares, the stock has surged over 90% this year, following a remarkable 346% surge in 2023. Saylor, a veteran in the tech industry who founded MicroStrategy in 1989, has garnered attention as a prominent figure in the realm of Bitcoin.

MicroStrategy Stock Surges on Bitcoin Boom

Since the company’s strategic shift towards cryptocurrencies in mid-2020, MicroStrategy has acquired more than 214,000 Bitcoins, leveraging its balance sheet and capital markets.

As the largest shareholder of MicroStrategy, Saylor’s Class B holdings are valued at approximately $2.3 billion. Additionally, he owns 400,000 Class A shares, acquired through an option granted in 2014, which he is swiftly offloading.

Last month, MicroStrategy announced plans to bolster its Bitcoin holdings with a $525 million convertible debt offering, which was subsequently upsized from $500 million. Purchasers were granted an option to acquire up to an additional $78.5 million of the offering, signaling the company’s ongoing commitment to its crypto investment strategy.