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 <p class="is-style-lead">Michael Saylor, MicroStrategy’s Executive Chairman, has initiated a four-month plan to sell $216 million of his MicroStrategy <a rel="noopener noreferrer nofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a>, previously stating his intention to use part of the proceeds to buy additional Bitcoin (BTC).</p>
 <p>Saylor revealed in a Jan. 2 filing with the U.S. Securities and Exchange Commission that he began <a rel="noopener noreferrer nofollow" title="selling" href="https://thebittimes.com/tag/selling.html">selling</a> his 315,000 stock options, awarded in April 2014, which are due to expire by Apr. 30, 2024.</p>
 <p>Per the filing, Saylor commenced the <a rel="noopener noreferrer nofollow" title="selling" href="https://thebittimes.com/tag/selling.html">selling</a> process on Jan. 2, beginning with the first set of 5,000 <a rel="noopener noreferrer nofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a>.</p>
 <p>During MicroStrategy’s third-quarter earnings call on Nov. 2, Saylor announced his strategy to sell approximately 5,000 shares daily over the next four months. This plan is contingent on the shares meeting a predetermined minimum price.</p>
 <p>In the company’s 10-Q filing on Nov. 1, he had previously declared that he was authorized to sell up to 400,000 <a rel="noopener noreferrer nofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> from his vested options by Apr. 26.</p>
 <p>Saylor’s decision to sell part of his stake is driven by his desire to fulfill personal financial obligations and to increase his personal Bitcoin holdings. Despite these sales, he maintains a substantial equity interest in MicroStrategy.</p>
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 <p>This move comes amidst a notable rally in Bitcoin prices, which saw a 170% increase from the beginning of last year and MicroStrategy’s stock outperforming the cryptocurrency with a 411% gain, according to Yahoo Finance data.</p>
 <p>Given MicroStrategy’s status as the current top institutional BTC holder, it’s yet to be determined how it will fare against competitors like Blackrock, Fidelity, and Grayscale in the race for the first U.S. approval of a spot Bitcoin ETF, potentially as soon as Jan. 10.</p>
 <p>As of late December 2023, the firm has accumulated 189,150 BTC, purchased for a total of $5.9 billion over various points in recent years.</p>
 <p>Saylor has previously argued that the company will remain an attractive option to investors seeking exposure to Bitcoin even if the U.S. approves spot Bitcoin ETFs.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/michael-saylor-starts-selling-216m-in-microstrategy-shares-to-purchase-more-btc-tbt75438.html">https://thebittimes.com/michael-saylor-starts-selling-216m-in-microstrategy-shares-to-purchase-more-btc-tbt75438.html</a></p>

Michael Saylor starts selling $216m in MicroStrategy shares to purchase more BTC

TheBitTimes

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