Michael Saylor to Sell $216 Million in MicroStrategy Stock Options, Buy More Bitcoin

Michael Saylor, founder of software firm MicroStrategy, is set to sell $216 million worth of stock options in the company, with some of the proceeds to buy more. Bitcoin For personal storage.

The sale of the stock options was disclosed in a filing with the US Securities and Exchange Commission (SEC), in which Saylor proposed to sell 310,000 stock option awards granted in 2014.

Speaking on MicroStrategy's fourth-quarter earnings call, Saylor explained, “I was granted a stock option in 2014 with 400,000 shares that will expire next April if I don't exercise by then.” He added that he plans to exercise and sell 5,000 shares each trading day from January 2 to April 25 “at low prices.”

“Exercising this option will help me meet some financial obligations and buy more bitcoins for my personal account,” Sayler said.

Michael Saylor and Bitcoin

The co-founder and executive chairman of MicroStrategy underwent a Damascene conversion in 2013, saying cryptocurrency's “days are numbered.” Since then, MicroStrategy has acquired 189,150 BTC in Bitcoin purchases, worth $8.5 billion today.

Saylor bought Bitcoin for his personal holdings in 2020 on Twitter, showing that he bought 17,732 BTC at an average price of $9,882. Saylor retweeted the 2020 post in October 2021, saying, “Don't sell your #bitcoin.”

At current prices, Saylor's personal Bitcoin holdings are worth over $800,000,000. Assuming it is held at one address, Saylor's personal bitcoin holdings place him among 103 Bitcoin addresses per BitInfoCharts (with the caveat that Bitcoin can be held at multiple addresses by the same individual).

During the conference call, Saylor said he remains “optimistic” about MicroStrategy's prospects and that he holds a “very significant” equity stake in the company. Buoyed by Bitcoin's recent rally above $45,000, MicroStrategy's stock price rose to $691.74 in pre-market trading. In a Dec. 31 tweet, Saylor celebrated MicroStrategy 2023's performance, noting that the company “can do it” with Bitcoin.