No one

2024

Bitcoin

April

Million

Michael Saylor, executive chairman and co-founder of MicroStrategy, has initiated the sale of 315,000 company shares, totaling nearly $216 million, with intentions to expand his personal Bitcoin holdings. This decision, initially announced during MicroStrategy’s third-quarter earnings call in 2023, is a testament to his dedication to and confidence in BTC. 
<h2 id="saylor-will-bolster-his-personal-bitcoin-holdings">Saylor Will Bolster His Personal Bitcoin Holdings</h2> 
Saylor, a prominent figure in the industry, stated during the November call, “I was granted a stock option in 2014 with respect to 400,000 shares, which is going to expire next April if I exercise it by then.” Saylor has now pulled this option, as yesterday’s <a href="https://www.sec.gov/Archives/edgar/data/1050446/000197185724000008/xsl144X01/primary_doc.xml" target="_blank" rel="noopener nofollow">filing</a> with the US Securities and Exchange Commission (SEC) shows. 
In November, he explained, “For almost a decade now, at my request, the company only paid me a $1 salary and I have chosen not to be eligible for any cash bonuses. Exercising this option will allow me to address financial obligations as well as to acquire additional Bitcoin for my personal account.” 
In an elaborate plan, he aims to sell around 5,000 shares each trading day from January 2 to April 25, 2024, contingent on meeting a minimum price condition. 
“Under my trading plan, I plan to exercise and sell 5,000 shares on each trading day, beginning on January 2, 2024 and ending on April 25, subject to a minimum price condition. This means the sale will take place over almost four months,” Saylor elaborated, highlighting his long-term commitment to the company and Bitcoin.” 
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
 Michael ‘Gigachad’ Saylor is going to sell 5,000 shares of MSTR every day starting today until April 25th, 2024 in order to buy more personal <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#Bitcoin</a> 
 No one will out-stack the GOAT <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f410.png" alt="🐐" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92f.png" alt="🤯" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/0w5mU75Q79" rel="nofollow" target="_blank">pic.twitter.com/0w5mU75Q79</a> 
 — The ₿itcoin Therapist (@TheBTCTherapist) <a href="https://twitter.com/TheBTCTherapist/status/1742344023241863336?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">January 3, 2024</a>
</blockquote> 
Based on a Q-10 <a href="https://www.sec.gov/Archives/edgar/data/1050446/000095017023057418/mstr-20230930.htm" target="_blank" rel="noopener nofollow">filing</a> with the SEC on November 1, Saylor is authorized to sell up to 400,000 shares from his vested options in the timeframe extending from January 2 to April 26 of this year. Despite the sale, Saylor maintains a “significant” stake in MicroStrategy, reinforcing his confidence in both the company. 
<h2 id="mstr-outperforms-btc">MSTR Outperforms BTC</h2> 
MicroStrategy (MSTR) stock has had a fabulous 2023, rising more than 375%. Moreover, MSTR is up 12.43% in the last 5 days alone, closing at $685.15 on Tuesday. 
This increase <a href="https://bitcoinist.com/microstrategy-billion-dollar-bitcoin-bet/" target="_blank" rel="noopener ">aligns</a> with the company’s aggressive investment in BTC, maintaining its position as the largest listed corporate holder of the premier digital currency. Remarkably, MicroStrategy has even outperformed Bitcoin which enjoyed a 165% rally last year. 
The company’s December 27 <a href="https://bitcoinist.com/how-much-profits-microstrategys-bitcoin-stack-2023/" target="_blank" rel="noopener ">purchase</a> of an additional 14,620 BTC for $615 million further solidified its mammoth Bitcoin reserve. With its latest acquisition in December, the firm’s total Bitcoin holdings amount to 189,150 BTC, valued at $8.55 billion at current market prices. 
At press time, Bitcoin traded at $45,443. On Tuesday, the BTC price reached its <a href="https://bitcoinist.com/bitcoin-blasts-past-45000-as-etf-hype-heats-up/" target="_blank" rel="noopener ">highest level</a> since April 2022 at $45,934. Impressively, this reflects a 7.6% year-to-date. 
<img loading="lazy" decoding="async" class="size-full wp-image-272304" src="https://bitcoinist.com/wp-content/uploads/2024/01/BTCUSD_2024-01-03_08-12-32.png?resize=1024%2C472" alt="Bitcoin price" width="1024" height="472" srcset="https://bitcoinist.com/wp-content/uploads/2024/01/BTCUSD_2024-01-03_08-12-32.png?resize=1024%2C472?w=3628 3628w, https://bitcoinist.com/wp-content/uploads/2024/01/BTCUSD_2024-01-03_08-12-32.png?resize=1024%2C472?w=640 640w, https://bitcoinist.com/wp-content/uploads/2024/01/BTCUSD_2024-01-03_08-12-32.png?resize=1024%2C472?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/01/BTCUSD_2024-01-03_08-12-32.png?resize=1024%2C472?w=980 980w, https://bitcoinist.com/wp-content/uploads/2024/01/BTCUSD_2024-01-03_08-12-32.png?resize=1024%2C472?w=1536 1536w, https://bitcoinist.com/wp-content/uploads/2024/01/BTCUSD_2024-01-03_08-12-32.png?resize=1024%2C472?w=2048 2048w, https://bitcoinist.com/wp-content/uploads/2024/01/BTCUSD_2024-01-03_08-12-32.png?resize=1024%2C472?w=750 750w, https://bitcoinist.com/wp-content/uploads/2024/01/BTCUSD_2024-01-03_08-12-32.png?resize=1024%2C472?w=1140 1140w, https://bitcoinist.com/wp-content/uploads/2024/01/BTCUSD_2024-01-03_08-12-32.png?resize=1024%2C472?w=3000 3000w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1">

Michael Saylor Starts His $216 Million Bitcoin Purchase, Here’s His Plan

Table of Contents

Bitcoinist

Other articles published on Jan 3, 2024

Uniswap Crypto Price Prediction: Will UNI Break Below Key EMAs?

Bitget stacks workforce amid growing interest in Bitcoin, BRC-20 tokens

Shiba Inu: Shibarium To ‘Automatically’ Burn SHIB From January 2024

Congressman Tom Emmer proposes a bill to reduce surveillance through CBDC

Shiba Inu (SHIB) Could Face a 20% Drop If This Happens

Jim Cramer Changes Tune On Bitcoin Amid Price Surge: ‘You Can’t Kill It’

Join our free newsletter for daily crypto updates!