Michael Saylor, the executive chairman of MicroStrategy, has initiated the process of selling $216 million worth of his shares in the company. The move, disclosed in a filing with the United States Securities and Exchange Commission (SEC), involves the sale of stock options awarded to Saylor in April 2014. The awarded stock options, totaling 315,000 shares, are set to expire on April 30, 2024. Saylor, who announced his intention to sell 5,000 MSTR shares daily over four months during MicroStrategy's third-quarter earnings call, aims to use part of the proceeds to buy more Bitcoin and address personal obligations.


Key Points:

  • Stock Options Sale: Michael Saylor has begun the process of selling his stock options, starting with the first tranche of 5,000 shares sold on Jan. 2. The total value of the planned stock option sale is $216 million.

  • Bitcoin Purchase: Saylor has previously stated that a portion of the proceeds from the stock options sale would be used to acquire additional Bitcoin for his personal account. The move aligns with Saylor's well-known bullish stance on Bitcoin.

  • Four-Month Selling Plan: Saylor plans to sell 5,000 MSTR shares daily for four months, as per his announcement during MicroStrategy's third-quarter earnings call on Nov. 2, 2023. The option to sell a maximum of 400,000 shares is available to him between January 2 and April 26, 2024.

  • Personal Obligations: Saylor mentioned that the proceeds from the stock options sale would help him address personal obligations. Despite the sales, he emphasized that his stake in MicroStrategy's equity remains "significant."

  • MicroStrategy's Bitcoin Holdings: MicroStrategy, led by Michael Saylor, has been actively accumulating Bitcoin. On December 27, 2023, the company purchased an additional 14,620 bitcoins for $615 million, bringing its total bitcoin holdings to 189,150 BTC, valued at around $8.5 billion at current prices.

Conclusion: Michael Saylor's initiation of the stock options sale aligns with his plan to use the proceeds to buy more Bitcoin and address personal obligations. MicroStrategy's active involvement in Bitcoin acquisitions has contributed to the company's performance, with its stock outperforming Bitcoin in the past year. Saylor's ongoing commitment to cryptocurrency investments and his belief in Bitcoin's potential as a long-term store of value are evident in these strategic moves.


(TOM MITCHELHILL, COINTELEGRAPH, 2023)