Michael Saylor Sells MicroStrategy Shares for Over $200 Million

Michael Saylor, founder and former CEO of enterprise software company MicroStrategy, is selling $216 million worth of MSTR stock from his private holdings.

In contrast, the Bitcoin fan has not announced that it will remove any of its BTC stashes.

Share price nearly quadrupled YoY

Microstrategy bought as much bitcoin as possible, in principle, due to Saylor's belief that the underlying cryptocurrency is generally less vulnerable to asset price losses than cash stocks.

“In the end, it's not easy to see what a better strategy might be. We can outperform our counterparts in the enterprise software business by simply earning and holding Bitcoin. Bitcoin's regulatory environment is evolving. As capital flows out of the crypto industry, it flows into Bitcoin.

The last bitcoin purchase of the year was announced on December 27th.

MicroStrategy got an additional 14,620 BTC for ~$615.7 million at an average of $42,110 per #bitcoin. In the year As of 12/26/23 @MicroStrategy now hodls 189,150$BTC for ~$5.9 billion at an average of $31,168 per bitcoin. $MSTR

— Michael Saylor⚡️ (@saylor) December 27, 2023

The above figure – which also makes MicroStrategy the largest institutional holder of BTC – was behind MSTR's recent rally, which rose above $685.

In the year It has seen a 372% increase since the beginning of 2022, thus bringing its value to its highest level since December 2021, just before the crypto winter.

Now, Saylor is looking to profit from his HODL habits.

A total of 315,000 MSTR shares will be traded on NASDAQ, although more may be sold later. According to a Bloomberg report, up to 400,000 MSTR shares will be sold between January 2 and the end of April, according to a previously announced announcement.

However, the MicroStrategy founder's decision to hold his own stock longer than he simply decided could be the reason behind Bitcoin's continued bull run in recent weeks.

Alternative to ETFs

While Grayscale, Blackrock and other companies in the financial industry continue to await SEC approval of their proposed Bitcoin ETFs, MicroStrategy still has the option of offering itself as a BTC ETF, as well as developing software, which is huge. The company's financial reserves have been held in the ancient cryptocurrency for many years.

For this reason, the price of MSTR shares closely follows BTC, although there are differences due to the adoption of software produced by the company, offering institutional customers an alternative way to buy into the BTC circuit. Non-traditional financial system.