In a recent filing with the U.S. Securities and Exchange Commission, MicroStrategy co-founder Michael Saylor disclosed his intention to sell company shares worth $216 million for a personal Bitcoin investment. The planned sale involves 310,000 stock option awards granted in 2014. As of January 2, MicroStrategy closed at $685.15, valuing Saylor's holdings at $216 million.
Saylor outlined his strategy during MicroStrategy's 2023 third-quarter earnings call, confirming his plan to sell up to 5,000 shares per trading day within a four-month window. This strategy, subject to a minimum price condition, enables Saylor to divest up to 400,000 shares of his vested options before they expire on April 26, 2024.
"I was granted a stock option in 2014 with respect to 400,000 shares, which is going to expire next April," Saylor explained. "Exercising this option will allow me to address personal obligations as well as acquire additional Bitcoin to my personal account."
Despite the stock sale, Saylor expressed optimism about MicroStrategy's prospects, emphasizing that his equity stake in the company would remain significant.
MicroStrategy's Aggressive Bitcoin Accumulation
Between November 30 and December 26, MicroStrategy aggressively purchased 14,620 Bitcoins for $616 million, expanding its total holdings to 189,150 Bitcoins valued at over $8 billion. This holding represents a substantial 1% of all Bitcoins currently in circulation, solidifying MicroStrategy's position as the largest listed corporate holder of Bitcoin among public companies.
Bitcoin Price Surges to $45,000 with Record-High Daily Transactions
Bitcoin's price started the new year on a strong note, surpassing $45,000. At the time of writing, it stands at $45,272, reflecting a 6.87% increase over the past week according to CoinMarketCap. Additionally, Bitcoin achieved a significant milestone on New Year's Eve, processing over 731,000 transactions in a single day, marking a new record in the network's history.
As Bitcoin continues its upward trajectory, investors and enthusiasts closely monitor developments, including pending decisions from the SEC on spot Bitcoin exchange-traded funds (ETFs). Stay tuned for further insights into the dynamic crypto landscape.
