BitcoinBTCNews

Michael Saylor to Buy BTC, Sell $216M in MicroStrategy Stocks

2 Mins read

The story of Michael Sayler’s shares selling is no new to the crypto world. The executive chairman of MicroStrategy is fully focused on buying more and more BTC in the upcoming days. In continuation, he made another major move, all set to sell $216M in MicroStrategy Stocks.

What’s Going On In Sayler’s Mind? 

The story of selling shares came into the limelight in the November 1 Q-1 filing with the SEC. Saylar was permitted to sell approximately 400,000 shares of vested options between January 2 and April 26, 2024.

On November 2, 2023, Saylor revealed his full plan to sell 5,000 MSTR shares daily for the next four months.

In a January 2024 filing with the SEC, Michael Saylor disclosed his plan to sell stocks, all prepared to begin a four-month procedure of selling $216 Million of his shares.

The previous moves of Sayler’s would be used to purchase more BTC.

In continuity with the plan, Sayler has already begun selling his 315,000 stock options awards, selling his first tranche of 5,000 shares. The options award was granted to Sayler in April 2014 and expires on April 30, 2024.

“The selling of the MicroStrategy stocks will be used for personal obligations and BTC buying”, said during MicroStrategy’s third-quarter earnings call.

As per the plan, MicroStrategy already bought 14,620 BTC for $615 Million on December 27 and is expected to grow more in the upcoming days. Moreover, he is sure that staking in the company’s equity will remain secure despite personal sales.

Uncovering Saylor’s BTC buying plan, MicroStrategy’s total BTC holding reached 189,150 BTC which is valued at over $8.5 Billion. MicroStrategy also created its position among the top BTC holders, according to Crypto News.

Summing up the scenario, Michael Saylor considers Bitcoin on a bull run in 2024.

“Bitcoin will go on a bull run in 2024, and spot Bitcoin ETF approval could be the significant development on Wall Street in 30 years”, said Sayler in an interview with Bloomberg.

If this happens, MicroStrategy will remain one of the inviting options for investors looking for exposure in BTC.

Bitcoin’s Current Performance 

Taking a look at Bitcoin’s performance, the year 2024 came up with lots of surprises for BTC holders. The crypto hit an all-time high of $45K on January 2, since April 2022. However, the happiness wasn’t sustained for long, as BTC’s price declined to $42.640 in a day.

A sudden decline of 6.81% in 24 hours stirred the crypto universe, creating a tense environment for BTC holders as well as companies who applied for spot Bitcoin ETF.

Source

1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Articles
Related posts
CryptoNews

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…
BNBCryptoNews

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…
CryptoNews

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥

Ailtra.ai will not disclose your account information to any 3rd parties.