Michael Saylor’s Plan to Increase Bitcoin Holdings
According to a filing with the U.S. Securities and Exchange Commission (SEC), Michael Saylor, the executive chairman of Microstrategy, is planning to sell $216 million worth of his company’s shares. This move is intended to allow Saylor to acquire more bitcoin for his personal holdings.
Saylor’s Stock Sale Plan
Saylor had previously disclosed his plan to sell up to 400,000 shares of Microstrategy stock over four months. This 10b5-1 trading plan is triggered by a stock option that expires in 2024 and involves daily sales of 5,000 shares. The sales are contingent upon meeting a minimum price condition.
The Purpose of the Stock Sale
During Microstrategy’s earnings call in 2023, Saylor explained that he intends to use the proceeds from the stock sale to address financial obligations and acquire more bitcoin for his personal account. He revealed that he was granted the stock option in 2014 and that it will expire in April if not exercised.
Saylor’s Bitcoin Holdings
While the exact amount of bitcoin that Saylor currently owns is not known, he previously stated that he personally owns 17,732 BTC as of October 2020. Additionally, Microstrategy publicly reported holdings of 189,150 bitcoin as of December 2023.
Hot Take: Saylor Continues to Bet on Bitcoin
Michael Saylor, the executive chairman of Microstrategy, is selling $216 million of his company’s shares to acquire more bitcoin for his personal holdings. This move showcases Saylor’s continued belief in the future of bitcoin and his commitment to increasing his exposure to the cryptocurrency. With Microstrategy already holding a significant amount of bitcoin, Saylor’s decision to use his own funds to acquire more highlights his confidence in the digital asset market’s potential for growth. As an influential figure in the crypto space, Saylor’s actions may have an impact on other investors’ perceptions and investment strategies.
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