In a move that underscores the growing trend of executives diversifying assets into cryptocurrencies, MicroStrategy’s Executive Chairman, Michael Saylor, has embarked on a four-month journey to sell $216 million worth of his shares in the company. Saylor, a prominent Bitcoin advocate, had previously announced that a portion of the proceeds from the sale would be directed towards acquiring more Bitcoin for his personal portfolio.
The disclosure, made in a filing with the United States Securities and Exchange Commission (SEC) on January 2, revealed that Saylor had commenced the sale of his 315,000 stock options awards, originally granted in April 2014. These stock options, set to expire on April 30, 2024, allow Saylor to sell up to 400,000 shares between January 2 and April 26, as indicated in a November 1 Q-10 filing with the SEC.
Saylor initiated the process on January 2 by selling the first tranche of 5,000 shares, a move consistent with his announcement during MicroStrategy’s third-quarter earnings call on November 2. During the call, Saylor outlined his plan to sell 5,000 MicroStrategy (MSTR) shares daily over the next four months. He emphasized that this strategy would help him meet personal obligations while augmenting his Bitcoin holdings.
While Bitcoin experienced a remarkable 170% rally in the past year, MicroStrategy has outpaced the digital asset, boasting an impressive 411% gain according to TradingView data. This divergence is noteworthy, considering that MicroStrategy’s strategic allocation to Bitcoin is a contributing factor to its stellar performance.
MicroStrategy’s commitment to Bitcoin is evident in its recent purchase of an additional 14,620 Bitcoin on December 27, amounting to $615 million. This acquisition elevated MicroStrategy’s total Bitcoin holdings to a staggering 189,150, valued at approximately $8.5 billion based on current market prices. Saylor’s ongoing share sale is expected to further fuel MicroStrategy’s Bitcoin accumulation while catering to his personal financial obligations.
