MicroStrategy’s CEO, Michael Saylor, signed a stock sale agreement with his company last year to sell up to 400,000 shares in the first four months of this year. Company Bitcoin It sold 90% of its assets before the halving to make a profit of $370 million. However, there is still speculation that Saylor will sell his remaining MSTR shares in exchange for BTC.
MicroStrategy has not yet benefited from the decline in Bitcoin price and may consider re-announcement at a time when the price is likely to rise.
Michael Saylorearned $370 million from MicroStrategy shares. Under the share sale agreement, Bitcoin advocate Saylor could sell up to 400,000 shares in the first four months of 2024.
However, Michael Saylor implemented only 90% of the plan, leaving 10% shares to be sold. Saylor’s Class A MicroStrategy shares are down 30,000 shares after the latest selloff announced Thursday. Saylor sold $3,023,309 worth of MSTR shares, with sales prices for those shares ranging from $1,189.12 to $1,258.05, according to a filing with the U.S. Securities and Exchange Commission.
Bitcoin ETF‘s and the increase in price in anticipation of the BTC halving effect has helped MicroStrategy share price rise nearly 100% since the beginning of the year. It’s possible that Michael Saylor will sell MSTR and announce that MicroStrategy will buy more BTC next week. The company is raising funds for possible acquisitions, and MicroStrategy is choosing to wait out declines.
MicroStrategy’s Bitcoin Assets and Price Performance
MicroStrategy currently owns 214,246 BTC and holds 1% of the world’s Bitcoin after its last purchase of 9,245 BTC for $623 million. Saylor is MicroStrategy’s largest shareholder, with Class B shares worth approximately $2.3 billion. Therefore, the recent strategic selling of MSTR shares is not indicative of faith in MicroStrategy and Bitcoin.
The MSTR price is down 37% from its March high and is down 15% this week, when the Bitcoin price has experienced a significant decline. However, MicroStrategy shares are still up 81% YTD and 346% in 2023, making them one of the best performers in the market.
Bitcoin price is down over 1% in the last 24 hours and is currently trading at $63,952. The 24-hour low and high price are $63,036 and $65,381 respectively. The market remains bullish on further upside in BTC price.
