Michael Saylor: a plan to sell $216 million worth of stock options in MicroStrategy (MSTR)

Michael Saylor, executive chairman of Microstrategy, has started implementing his plan to sell a whopping $216 million worth of company stock options. 

Such proceeds will be used for personal purposes and to purchase additional bitcoin, but on his personal account. 

Michael Saylor of MicroStrategy sells $216 million worth of MSTR stock options

The famous bitcoiner Michael Saylor has decided to implement his plan and start selling $216 million worth of MicroStrategy (MSTR) stock options. 

Confirming this is a regulatory document from the U.S. Securities and Exchange Commission (SEC), which shows Saylor’s proposal.

This proposal involves the sale of 310,000 stock options granted in 2014, which expire in April 2024. 

Specifically, in MicroStrategy’s third quarter, it emerged in the 10-Q document that Saylor can sell up to 400,000 shares of his options that have matured until April 26th.

According to what is reported, Saylor would have stated that he intends to sell 5,000 shares per trading day over the next four months, subject to a minimum price.

Michael Saylor sells MicroStrategy stock options to buy more bitcoin

Saylor would have stated that behind the decision to implement the stock options selling plan of MicroStrategy, there are personal reasons, such as buying more bitcoin.

And indeed, Saylor would have declared the following:

“Exercising this option will allow me to meet personal obligations and acquire additional bitcoin (BTC) for my personal account. I remain optimistic about MicroStrategy’s prospects and must emphasize that my ownership in the company after these sales will remain very significant.”

Here is the call where Saylor explains everything:

@saylor during the fourth quarter conference call of $MSTR confirmed that he is exercising MicroStrategy’s options to personally purchase additional #bitcoin:

Currently, MicroStrategy is the largest holder of bitcoin, with approximately 189,000 BTC in its treasury after the latest purchase in December, worth about $8.5 billion at current prices.

BTC bull run boosts MSTR stocks

In this just started 2024, Bitcoin (BTC) is experiencing a price bull run that has brought it to surpass the $45,000 threshold, reaching almost $45,800.

This price is the highest of the entire 2023. At the time of writing, BTC is worth $45,060.

This BTC super rally has also pushed up the stocks of MicroStrategy and Coinbase which, yesterday, in the US premarket of Nasdaq, were marking a +7.5% and a +4% respectively.

In the specific case of MicroStrategy, today MSTR shares are worth $685.15, up +8.48% from yesterday. This price represents a price growth of MSTR of +81.33% in the last 6 months.