Cointelegraph Team
Cointelegraph
MicroStrategy executive chairman Michael Saylor has begun a four-month process of selling $216 million worth of his shares in his firm MicroStrategy, previously stating part of it would be used to buy more Bitcoin (BTC $45,281). In a Jan. 2 filing with the United States Securities and Exchange Commission, Saylor disclosed that he had already started selling his 315,000 stock options awards, first granted to him in April 2014. The awarded stock options expire on April 30, 2024.
Michael Saylor has already begun selling his MicroStrategy shares. Source: SEC
According to the filing, Saylor began the process on Jan. 2, selling his first tranche of 5,000 shares.
In MicroStrategy’s third-quarter earnings call on Nov. 2, Saylor said he planned to sell 5,000 MSTR shares daily for the next four months, which will go into addressing “personal obligations” and increasing the amount of Bitcoin he owns.
“Exercising this option will allow me to address personal obligations as well as acquire additional Bitcoin to my personal account,” Saylor said on the call. He added that his stake in the company’s equity remains “significant” despite his personal sales.
According to a Nov. 1 Q-10 filing with the SEC, Saylor can sell a maximum of 400,000 shares of his vested options between Jan. 2 and April 26 this year.
While Bitcoin enjoyed an impressive 170% rally from the start of last year, MicroStrategy has outperformed the asset by more than double, gaining 411% over the course of the last year, per TradingView data.
On Dec. 27, MicroStrategy purchased an additional 14,620 Bitcoin for $615 million. The purchase saw MicroStrategy’s total Bitcoin holdings grow to a staggering 189,150 Bitcoin — worth some $8.5 billion at current prices.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
Recommended Content
Editors’ Picks
AI crypto coins rally ahead of ChatGPT creator OpenAI plans to announce Google search competitor on Monday
Barely before the hype around NVIDIA stock gain is over, AI crypto tokens have another bullish catalyst coming their way, which could provide more tailwinds to drive the price of the sector’s tokens.
Ethereum needs a bullish trigger, Joseph Lubin blasts the SEC
Ethereum co-founder alleges that the SEC aims to stifle innovation through its enforcement actions against Ethereum-related companies. Grayscale CEO says he's optimistic the SEC would approve its spot ETH ETF application.
Franklin Templeton declares it’s “Base Season” as the Coinbase low-cost L2 sees significant rise in activity
Franklin Templeton, an investment firm with up to $1.46 trillion in assets under management, has declared that “It’s Base Season.” It comes amid growing activity on the low-cost ETH L2 solution.
Binance fined by Canadian financial regulator over AML violations
Canada's financial regulation body, the Financial Transactions and Reports Analysis Centre (FINTRAC), has fined Binance for refusing to abide by the status quo for all foreign monetary bodies in the country, according to a report on May 9.
Bitcoin: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.