Michael Saylor will sell $216M stocks to buy Bitcoin (BTC) 

The Microstrategy co-founder Michael Saylor confirmed that he is going to buy a huge amount of Bitcoin this year. 

Michael Saylor is co-founder & former CEO of Bitcoin bull firm Microstrategy, a Nasdaq-listed business intelligence firm which currently holds nearly 189,150 BTC on the balance sheet. In 2020, Microstrategy started buying Bitcoin under the leadership of Saylor. In Aug 2022, Saylor stepped down from the Microstrategy CEO role & decided to spend his full time only on Bitcoin-focused initiatives for the company.

In the latest filing with the United States Securities and Exchange Commission (SEC), Saylor confirmed that he planned to sell $216 million worth of his shares in the firm. 

Saylor has 315,000 stock options awards and he planned to sell 5,000 MSTR shares daily for the next four months. Notably, he already started selling these stocks on 2 Jan. 

As per a filing by Microstrategy with the SEC in Nov 2022, the former Microstrategy CEO has full right to sell up to 400,000 shares of his vested options between January 2 and April 26, 2024. 

Through the latest filing, Saylor confirmed that he will always keep a big amount of Microstrategy stock in his portfolio but he confirmed that he will use the sale fund for “personal obligations” and expanding his personal Bitcoin holdings. 

In 2023, the trade price of Bitcoin surged nearly 170% which further acted as a catalyst to pump the trade price of Microstrategy (MSTR) by 411%. 

The current trade price of MSTR is $685 & this trade price is 8.48% higher than the last 24 hours’ trade price. 

According to experts, the trade price of Bitcoin as well as MSTR stock will surge significantly this year because many factors are supporting the bullish sentiments for Bitcoin trade price in 2024 and further the pump in Bitcoin trade price will help pump in MSTR stock. 

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