In a recent Form 144 filing, Michael Saylor, co-founder, and executive Chairman of MicroStrategy, Inc. (NASDAQ:MSTR), disclosed the sale of 315,000 common shares valued at around $216 million through his broker Merrill Lynch. The transaction, executed on 01/02/2024, involved Saylor divesting 310,000 shares acquired via a 2014 stock option award, along with an additional 5,000 shares obtained on the same day through a stock option exercise.
This move by Saylor coincides with MicroStrategy’s remarkable stock performance, witnessing a surge of 384% in the past year, closely tied to the substantial rebound in Bitcoin prices, which have risen by 169% during the same period.
As of December 26, 2023, MicroStrategy’s crypto holdings comprised approximately 189,150 bitcoins, acquired at a total purchase price of approximately $5.895 billion. The average purchase price per bitcoin, inclusive of fees and expenses, stood at approximately $31,168. With the current Bitcoin prices, this holding is now estimated to be worth around $8.48 billion.
Saylor’s decision to sell a significant portion of his MicroStrategy shares reflects a strategic move amidst the cryptocurrency’s impressive market performance. The disclosure offers insights into the intricate relationship between MicroStrategy’s stock value and the fluctuating trends in the cryptocurrency market, particularly Bitcoin.
