Michael Saylor, co-founder of MicroStrategy Inc., a heavy Bitcoin buyer, pocketed about $370 million selling shares of the company, according to CNBC.
According to the report, the Bitcoin bull and MicroStrategy executive “entered into a stock sale plan with his company last summer that would allow him to offload up to 400,000 shares in the first four months of 2024.”
Seiler said in November that he planned to sell the stock. Saylor explained in detail in the call, “In 2014, I was granted stock options for 400,000 shares that expire in April of next year.” He said at the time that he planned to sell 5,000 shares per trading day from Jan. 2 to April 25.
According to CNBC, Saylor sold more than 90% of his 400,000 shares.
MicroStrategy’s stock price more than tripled in late March as the price of Bitcoin hit an all-time high of $73,000, according to The Block Price Page.. Additionally, last month, MicroStrategy reported that it purchased an additional 9,245 Bitcoin for $623 million in cash, bringing its total Bitcoin holdings to 214,246. BTC
+1.60%
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About the author
RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. He previously covered entertainment for The Wall Street Journal and has covered companies including Disney, Netflix, and Warner Bros. and the creator economy, with a primary focus on technological innovation across media. Previously, she covered corporate, economic and political news in Brazil at Bloomberg. She interviewed a wide range of figures for RT, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers, and convicted criminals. She holds a Master’s degree in Digital Sociology.