MicroStrategy's Saylor nets $370 million selling company shares: report
Quick Take
- MicroStrategy’s Michael Saylor has pocketed about $370 million as his announced plan to sell company shares nears its conclusion.
Michael Saylor, co-founder of the prolific bitcoin buyer MicroStrategy Inc., has pocketed about $370 million from selling company shares, according to CNBC.
The bitcoin bull and MicroStrategy executive "entered into a stock-sale plan with his company last summer that allowed him to unload up to 400,000 shares in the first four months of 2024," according to the report.
Saylor said last November he intended to sell shares. “I was granted a stock option in 2014 with respect to 400,000 shares, which is going to expire next April,” Saylor detailed in the call. He said at the time planned to sell 5,000 shares per trading day between Jan. 2 and April 25.
According to CNBC, Saylor has unloaded over 90% of the 400,000 shares.
At the end of March, MicroStrategy's shares had more than tripled in value as the price of bitcoin hit an all-time high north of $73,000, according to The Block Price Page. Also last month, MicroStrategy reported it had purchased another 9,245 bitcoins for $623 million in cash, increasing its total bitcoin holdings to 214,246 BTC.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.