MicroStrategy Co-Founder to Sell Stock Options and Buy Bitcoin
Michael Saylor, the co-founder of software firm MicroStrategy, plans to sell $216 million worth of stock options in the company. He will use some of the proceeds to buy more Bitcoin for his personal stash. The sale was revealed in a filing with the U.S. Securities and Exchange Commission (SEC), where Saylor proposed to sell 310,000 stock option awards granted in 2014.
Saylor’s Bitcoin Journey
Saylor has become a vocal proponent of Bitcoin, despite previously claiming that its “days are numbered” in 2013. Since then, MicroStrategy has been on a Bitcoin buying spree, acquiring over 189,150 BTC worth over $8.5 billion. Saylor himself has also bought Bitcoin for his personal holdings. At current prices, his personal Bitcoin holdings are worth just over $800 million.
Remaining Optimistic about MicroStrategy
During a conference call, Saylor expressed optimism about MicroStrategy’s prospects and stated that he will retain a significant equity stake in the company. MicroStrategy’s stock price rose to $691.74 in pre-market trading following Bitcoin’s recent price surge above $45,000. Saylor celebrated MicroStrategy’s performance empowered by Bitcoin in a recent tweet.
Hot Take: Michael Saylor Continues to Embrace Bitcoin
Michael Saylor, the co-founder of MicroStrategy, is taking advantage of his stock options to buy more Bitcoin for his personal account. This move aligns with his strong support for the cryptocurrency, as he has been actively acquiring Bitcoin for both MicroStrategy and himself. With his personal Bitcoin holdings now valued at over $800 million, Saylor remains optimistic about MicroStrategy’s future and will retain a significant equity stake in the company. The recent surge in Bitcoin’s price has further boosted MicroStrategy’s stock value, highlighting the success of Saylor’s embrace of Bitcoin.
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