MicroStrategy founder Michael Saylor has been actively selling off shares of his brainchild over the past few months. With the authorization to sell up to 400,000 shares until April of this year, Saylor has successfully cashed in 370,000 shares, amounting to $372.7 million in value. This strategic move is part of an agreement he entered into last year with MicroStrategy.
Impressive Growth in Stock Market
Despite a 37% decline from its peak in March, MicroStrategy’s stock has shown significant growth, rising 91% this year following a remarkable 346% surge in 2023. This makes it one of the top performers in the U.S. stock market. Saylor, as the largest shareholder of MicroStrategy, holds Class B holdings estimated at $2.3 billion.
Apart from his stock holdings, Saylor is also known for his significant Bitcoin holdings. He acquired 17,732 BTC in 2020, now valued at approximately $1.1 billion. MicroStrategy has accumulated over 214,000 BTC since 2020, constituting roughly 1% of the total existing BTC supply, now valued at approximately $13.6 billion. This makes up the majority of MicroStrategy’s $21.3 billion market capitalization.
Bitcoin has been on a surge this year, thanks to the launch of spot BTC exchange-traded funds (ETFs) in January. The Bitcoin halving, which occurs every four years and halves rewards for Bitcoin miners, has also attracted more participants in the market. Saylor notes that MicroStrategy has an ongoing advantage as a leveraged BTC play without the associated management fees, allowing consumers to invest in Bitcoin directly or through various new ETFs.
MicroStrategy announced last month that it raised $782 million through a convertible debt sale at a low interest rate of 0.625%. The company specifically mentioned its intention to acquire more BTC with the proceeds from this sale. While Saylor has been selling off his Class A shares, most of his wealth remains tied up in his Class B holdings of MicroStrategy and his significant BTC holdings.
Michael Saylor’s strategic stock sales and Bitcoin investments have positioned him and MicroStrategy for long-term success in the ever-evolving financial markets. With a keen focus on maximizing returns and leveraging market trends, Saylor continues to make calculated moves to drive growth and profitability for MicroStrategy and its shareholders.