Michael Saylor is Selling MSTR Shares to Acquire More Bitcoin!

  • Saylor is selling approximately $216 million worth of MSTR shares, which could be a strategic move to accumulate more Bitcoin (BTC).
  • According to a Form 144 filed with the U.S. Securities and Exchange Commission (SEC) on January 2, 2024, Saylor is selling a maximum of 315,000 MicroStrategy shares.
  • Michael Saylor said in a recent interaction that he had a stock option of 400,000 shares of MSTR in 2014.

Michael Saylor, the Founder and Chairman of MicroStrategy, is considering selling MSTR shares to acquire more Bitcoin.

Saylor Aims to Acquire More Bitcoin

bitcoin-btc

Michael Saylor, the Founder and Chairman of MicroStrategy, is in the midst of the race to obtain approval for a spot Bitcoin ETF before January 10, 2023. He is selling approximately $216 million worth of MSTR shares, which could be a strategic move to accumulate more Bitcoin (BTC).

According to a Form 144 filed with the U.S. Securities and Exchange Commission (SEC) on January 2, 2024, Saylor is selling a maximum of 315,000 MicroStrategy shares. This decision was made while MicroStrategy (MSTR) stock prices have seen significant gains over the past few weeks. Within the last month, MSTR stock has risen up to 21.65%, compared to a 13.30% increase in Bitcoin (BTC) price during the same period.

In a recent interaction, Michael Saylor mentioned having a stock option for 400,000 MSTR shares dating back to 2014. He noted that the stock option would expire if not used by April 2024. Therefore, exercising this option would allow him to personally acquire more Bitcoin.

MicroStrategy’s Stance Post Bitcoin ETF Approval

Considering MicroStrategy’s current status as the largest institutional holder of BTC, it remains to be seen how the company will compete with rivals like BlackRock, Fidelity, and Grayscale once the first spot Bitcoin ETF is approved in the U.S. In the last week of 2023, the company holds 189,150 BTC acquired at a total cost of $5.9 billion over the past few years. If approved, companies issuing Bitcoin ETFs are likely to manage assets well beyond the amount held by MicroStrategy.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

XRP Spot ETF Debuts with $37.7M First-Day Volume, Far Exceeding Typical $1M New ETF

COINOTAG News, September 19: Bloomberg ETF analyst Eric Balchunas...

Whale Deposits 9,000 ETH ($41.55M) to Binance — 15,010 ETH Moved Since Sept 15, Potential $23.37M Profit

COINOTAG News on September 19 cited on-chain analyst Ai...

USDT Perpetual Contracts Gain Traction as Justin Sun Launches SunPerp on Tron

On September 19, Justin Sun posted on X highlighting...

Ethereum Whale Redeems 4,412 ETH ($20.2M) From StakeStone & AO Protocol, Sends Funds to Binance After $12M Blast Profit

According to COINOTAG citing EmberCN monitoring, an on-chain whale...

Bitcoin Whale Deposits $4M USDC into HyperLiquid to Avert Liquidation of 20x Short — $15M Added, $12.45M Unrealized Loss

COINOTAG reports on September 19, citing Onchain Lens, that...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img