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Michael Saylor Sold $216M Worth MicroStrategy Stocks to Buy Bitcoins

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Michael Saylor Bitcoin

According to a recent regulatory disclosure, Michael Saylor, the chairman and co-founder of Business intelligence company MicroStrategy, has embarked on the sale of company shares worth an estimated $216 million. As per the filing submitted to the US Securities and Exchange Commission on January 2nd, Saylor will be exercising stock options granted to him in 2014 to sell up to 315,000 MicroStrategy shares over the coming four months between January and April 2024.

The commencement of this stock sale aligns with Saylor’s previous announcement during MicroStrategy’s third-quarter earnings call in November last year. At the time, he had been notified of plans to sell 5,000 company shares daily to meet certain personal obligations while increasing his individual Bitcoin holdings. In his statement to shareholders, Saylor highlighted that the sale would go towards addressing personal commitments as well as acquiring more Bitcoin privately. Despite reducing his equity stake in MicroStrategy, he reassured that his involvement and interest in the company remain substantial.

Saylor’s Strategic Accumulation of Bitcoin Continues

Under Saylor’s leadership, MicroStrategy has emerged as the largest corporate holder of Bitcoin. In late December last year, the company acquired an additional 14,620 bitcoins for approximately $615 million, taking its total bitcoin reserves to over 189,150 coins valued at around $8.5 billion based on prevailing market prices.

MicroStrategy has aggressively leveraged debt financing and proceeds from stock offerings to systematically accumulate bitcoin over the past couple of years. Industry observers speculate the recent accumulation was timed pre-emptively ahead of the looming deadline for the US Securities and Exchange Commission’s decision on approving the country’s first bitcoin spot ETF in mid-January. A positive ruling could see a huge influx of fresh capital into the crypto space through mainstream investment channels.

In a recent media interaction, Saylor expressed optimism that a physically-backed Bitcoin ETF would not threaten MicroStrategy’s unique position and stock. The company offers leveraged exposure to bitcoin price moves without any trading fees. He emphasized MicroStrategy stock remains an appealing investment option for those seeking indirect exposure compared to alternatives expected to enter the market post-ETF approval.

With its pole position as the largest corporate holder of bitcoin and Saylor’s undeterred focus, MicroStrategy seems well-equipped to stay ahead of potential competition from financial giants expected to offer crypto investment products if regulatory barriers are lifted. The fresh capital raised through Saylor’s ongoing share sale will likely further augment these efforts to strategically invest in bitcoin to boost shareholder value over the long run.

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