January 3, 2024Business Desk

Michael Saylor initiates $216 mn share sale to increase BTC holding

Michael Saylor, Executive Chairman, MicroStrategy, has started his four-month plan to offload shares worth $216 million from his company.

Source: Unsplash

Saylor's decision, disclosed in a filing with the United States Securities and Exchange Commission (SEC) on January 2, stems from his intent to increase his personal Bitcoin portfolio.

Source: Reddit

The filing reveals that Saylor started the share sale by executing the sale of an initial tranche of 5,000 shares, part of the 315,000 stock options given to him in April 2014.

Source: Twitter

In MicroStrategy's third-quarter earnings call last November, Saylor articulated his strategy to liquidate 5,000 MSTR shares daily over the forthcoming four months.

Source: Twitter