MicroStrategy's Michael Saylor Sells More Shares to Buy Bitcoin
Michael Saylor of MicroStrategy sells $216M in shares for Bitcoin, as the company's BTC holdings reach $8.6B with rising profits.
The executive chairman of MicroStrategy, Micheal Saylor is selling $216 million of his company shares to buy more Bitcoin, further reflecting his optimism toward the future of Bitcoin
Saylor made a filing with the SEC, The filing reveals that he plans to sell 315,000 shares, mostly from 2014 stock options. He started with 5,000 shares on January 2 and plans to sell 5,000 daily, depending on the stock's price.
Saylor aims to use the funds for personal needs and to increase his personal Bitcoin holdings. Despite these sales, He still maintains a significant stake in MicroStrategy.
MicroStrategy's stock outperformed Bitcoin last year with a 411% gain. The company recently bought 14,620 more BTC, bringing its total to 189,150 BTC, worth about $8.6 billion.
As Bitcoin's price exceeds $45,000, MicroStrategy's Bitcoin investment shows an unrealized profit of $2.65 billion.
