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MicroStrategy’s founder, Michael Saylor, has recently sold a significant amount of shares, cashing in a whopping $372.7 Million.
Michael Saylor, has recently sold 370,000 shares sold under an agreement made with the company last year. He is allowed to sell up to 400,000 shares by April.
Saylor Selling Since January?
Since January, Saylor has been consistently selling his shares, and his most recent disclosed sale brought his Class A holdings down to 30,000 shares. Despite a slight dip in the stock price, MicroStrategy has been performing exceptionally well, with a remarkable surge in the past year.
Michael Saylor is estimated to hold Class B holdings worth $2.3 Billion. He also has 400,000 Class A shares obtained through an option granted in 2014, which he is quickly selling off. The sale plan was revealed quietly in the company’s third-quarter earnings filing in November.
Saylor’s Bitcoin holdings
Saylor’s Bitcoin holdings have been thriving during the market surge. Despite significant stock sales, most of his wealth is tied up in his Class B holdings of MicroStrategy, along with the 17,732 BTC he acquired in 2020, currently valued at around $1.1 Billion.
The rise in Bitcoin’s value this year has increased MicroStrategy’s returns due to the launch of spot BTC exchange-traded funds (ETFs) in January. The Bitcoin halving, which occurs every four years and halves rewards for Bitcoin miners, has also resulted in increased participation in the market.
Saylor notes that MicroStrategy’s ongoing advantage as a leveraged BTC play without the associated management fees is valuable in a market where consumers can purchase Bitcoin directly on various exchanges or invest in different new ETFs.
Class A vs Class B Holdings
After the latest sale disclosed on Thursday, Saylor’s Class A holdings of MicroStrategy shares are down by 30,000 shares. Class A stocks may offer 10 voting rights per stock held, while class B shares offer only one. He sold MSTR shares worth $3,023,309, with sales prices for these shares between $1,189.12 and $1,258.05, as per a filing with the U.S. SEC.
MicroStrategy stock price has rallied nearly 100% since the start of the year, thanks to the increase in Bitcoin price in anticipation of spot Bitcoin ETFs and Bitcoin halving. There are high odds of Michael Saylor selling MSTR sales and MicroStrategy announcing further Bitcoin buying next week. The company has been raising funds to buy Bitcoin, and they prefer the dip.
Conclusion
Michael Saylor, the CEO of MicroStrategy, has been quietly selling off his 400,000 Class A shares obtained through an option granted in 2014. Despite this, most of his wealth is tied up in his Class B holdings of MicroStrategy, along with 17,732 BTC he acquired in 2020, currently valued at around $1.1 Billion. The MicroStrategy stock has rallied nearly 100% since the start of the year, thanks to the increase in Bitcoin price in anticipation of spot Bitcoin ETFs and Bitcoin halving.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
