MicroStrategy founder Michael Saylor launches daily stock selling plan to buy Bitcoin
According to documents filed with the SEC, MicroStrategy founder Michael Saylor is set to sell 315,000 shares of MicroStrategy stock with the ticker symbol MTSR, valued at approximately $216 million.
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Options Expiring, Saylor to Sell Shares Daily
MicroStrategy's founder Michael Saylor will sell 315,000 shares of MicroStrategy stock, starting from January 2, 2024, to April 25, 2024, selling 5,000 shares per day. Saylor explained that these were options he acquired in 2014 when he chose to take a salary of only $1. As these options are expiring and will be worthless if not exercised, he plans to invest the cash proceeds into his financial planning, including buying Bitcoin. Despite selling these shares, he will still retain the majority of his equity.
Embracing the HODLer Spirit, Selling at Recent Highs
Looking at the table below, MicroStrategy's stock price has mostly ranged between $100 and $200 since Saylor received the stock options in 2014, only surpassing $1,000 during the 2021 crypto bull market. Despite the broader market decline yesterday, MicroStrategy defied the trend and rose by 8.48%, closing at a recent high.
This move is expected to bring in approximately $216 million in cash for Saylor personally, which he plans to incorporate into his financial planning, including investing in Bitcoin. It seems that this staunch Bitcoin believer continues to embrace the HODLer spirit, keeping financial operations simple, holding for the long term, and amassing significant wealth.
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