Will Michael Saylor Sell the Rest of MSTR Shares for Bitcoin?
MicroStrategy’s executive chairman Michael Saylor has been making headlines with his strategic stock sales and Bitcoin investments. With $370 million already pocketed from selling MicroStrategy shares, the question on everyone’s mind is whether Saylor will sell the remaining 10% of shares for Bitcoin.
Saylor entered into a stock-sale agreement last year to sell up to 400,000 shares in the first four months of 2024. So far, he has sold 90% of the shares, with the latest sale totaling $3,023,309. The increase in Bitcoin price and anticipation of spot Bitcoin ETFs and Bitcoin halving have helped MicroStrategy stock rally nearly 100% since the start of the year.
MicroStrategy currently holds 214,246 BTC, making it one of the largest Bitcoin holders in the world. Despite a recent pullback in MSTR price and Bitcoin price, MicroStrategy shares are still up 81% year-to-date and 346% in 2023, showcasing strong performance in the market.
With rumors of MicroStrategy announcing further Bitcoin buying next week, the market remains bullish on Bitcoin’s price movement. Will Michael Saylor sell the rest of his MSTR shares for Bitcoin? Only time will tell, but one thing is for sure – Saylor’s strategic moves continue to keep investors on their toes.
