Join Our Telegram channel to stay up to date on breaking news coverage
MicroStrategy co-founder Michael Saylor has started selling $216 million worth of MicroStrategy shares, with part of the funds raised going towards buying more Bitcoin.
A filing with the US Securities and Exchange Commission (SEC) disclosed that the Bitcoin bull would sell 315,000 MSTR shares.
During MicroStrategy‘s third-quarter earnings call, Saylor said the sale would go towards “addressing personal obligations” and acquiring BTC for his personal account.
The 315,000 MSTR shares are a stock option granted in 2014, and which expires in April next year. During the Q3 earnings call, Saylor said he plans to sell 5,000 MSTR shares daily between January 2 and April 25.
Saylor also said that his stake in MicroStrategy remained “significant” despite the recent share sale.
MicroStrategy Firm’s Bitcoin Holdings Grow to 189,150 BTC
MicroStrategy is the largest corporate holder of Bitcoin. It has accumulated 189,150 BTC, worth $8.55 billion at the current prices.
The company’s last purchase was on Dec. 27, when it bought 14,620 BTC for $615 million.
MicroStrategy outperformed Bitcoin over the past year. It’s soared 339% while the king of crypto jumped 158%. But 10X research says MSTR shares are 25% overvalued and face the risk of a steep correction.
This year #Bitcoin empowered @MicroStrategy. 🚀 pic.twitter.com/8DbXQwovI1
— Michael Saylor⚡️ (@saylor) December 31, 2023
BTC hit $45K on January 2, marking the highest level since April 2022. The gains come as crypto traders eagerly await the approval of spot Bitcoin exchange-traded funds (ETFs).
Also Read
- After MicroStrategy Buys Another $615 Million Bitcoin, Analyst Says Its Stock Is 26% Overvalued
- Bitcoin ATMs Installed Globally Drop For The First Time In 10 Years
- Top Macro Analyst Says $100K Bitcoin Price Would Be ‘’Disappointing’’ In Next Bull Run, Hopes For $200K
Most Searched Crypto Launch - Pepe Unchained
- Layer 2 Meme Coin Ecosystem
- Featured in Cointelegraph
- SolidProof & Coinsult Audited
- Staking Rewards - pepeunchained.com
- $10+ Million Raised at ICO - Ends Soon
Join Our Telegram channel to stay up to date on breaking news coverage
