Saylor Sells MicroStrategy Shares
MicroStrategy co-founder Michael Saylor has reportedly sold some of his company’s stocks in order to acquire more Bitcoin, according to a recent Bloomberg report. Saylor sold between 3,882 and 5,000 MicroStrategy shares on certain days leading up to the SEC’s approval of the Spot Bitcoin ETFs. These sales earned him over $20 million and mark the first time he has sold shares in nearly 12 years. The profits from these sales will be used to invest in Bitcoin, as part of Saylor’s plan to boost his BTC holdings.
Saylor’s ‘Bitcoin Strategy’
Saylor is known for being one of the most vocal advocates of Bitcoin and has developed a ‘Bitcoin Strategy’ for MicroStrategy. He plans to sell around 5,000 shares on each trading day until April 26 in order to acquire more BTC. Saylor has previously expressed bullishness on Bitcoin, predicting that 2024 will be a great year for the cryptocurrency. His decision to sell shares and invest in Bitcoin aligns with his long-term optimism.
MicroStrategy’s Stock Decline
Data from MarketWatch shows that MicroStrategy’s stock has declined by over 23% in the last five days. This decline may be attributed to the approval of the Spot Bitcoin ETFs, as some investors may have rotated their funds from MicroStrategy into these investment vehicles. The competition posed by Bitcoin ETFs was previously acknowledged by Saylor, but he believes that MicroStrategy offers a unique value proposition that sets it apart from these funds.
Hot Take: MicroStrategy’s Bitcoin Strategy Signals Long-Term Bullishness
MicroStrategy co-founder Michael Saylor’s decision to sell company stocks and invest in Bitcoin showcases his long-term bullishness on the cryptocurrency. With his ‘Bitcoin Strategy,’ Saylor is going all in on Bitcoin, leveraging the profits from stock sales to increase his BTC holdings. Despite MicroStrategy’s stock decline following the approval of Bitcoin ETFs, Saylor remains confident in his company’s unique offering and its ability to stand out in the market. This move further solidifies Saylor’s position as a prominent advocate for Bitcoin and demonstrates his belief in its future growth potential.
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