CryptoBitcoinMichael Saylor Unloads $216 Million Shares Amidst Bitcoin Surge

Michael Saylor Unloads $216 Million Shares Amidst Bitcoin Surge

In a recent Form 144 filing, Michael Saylor, co-founder, and executive Chairman of MicroStrategy, Inc. (NASDAQ:MSTR), disclosed the sale of 315,000 common shares valued at around $216 million through his broker Merrill Lynch. The transaction, executed on 01/02/2024, involved Saylor divesting 310,000 shares acquired via a 2014 stock option award, along with an additional 5,000 shares obtained on the same day through a stock option exercise.

This move by Saylor coincides with MicroStrategy’s remarkable stock performance, witnessing a surge of 384% in the past year, closely tied to the substantial rebound in Bitcoin prices, which have risen by 169% during the same period.

As of December 26, 2023, MicroStrategy’s crypto holdings comprised approximately 189,150 bitcoins, acquired at a total purchase price of approximately $5.895 billion. The average purchase price per bitcoin, inclusive of fees and expenses, stood at approximately $31,168. With the current Bitcoin prices, this holding is now estimated to be worth around $8.48 billion.

Saylor’s decision to sell a significant portion of his MicroStrategy shares reflects a strategic move amidst the cryptocurrency’s impressive market performance. The disclosure offers insights into the intricate relationship between MicroStrategy’s stock value and the fluctuating trends in the cryptocurrency market, particularly Bitcoin.

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Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

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