According to a filing on Tuesday, Michael Saylor, co-founder of the American business intelligence company MicroStrategy Inc., is selling 315,000 company shares for approximately $216 million.
Saylor had previously stated that he intended to use the money to pay off “financial obligations” and to buy more bitcoin for himself during the company’s third-quarter 2023 earnings call.
Saylor said in the call in November, “I was granted a stock option in 2014 with respect to 400,000 shares, which is going to expire next April.” He also mentioned that he intended to sell 5,000 shares per trading day between January 2 and April 25.
Microstrategy’s stock closed 8.48% higher at $685.15 on Tuesday, after rising 21.65% over the previous month.
The business is still the biggest listed corporate bitcoin holder. After its most recent acquisition of 14,620 BTC in December, it has amassed 189,150 BTC, or $8.55 billion at current rates.
According to data from The Block, Bitcoin BTC -0.79% increased 0.4% in the previous day to trade at $45,182 at 9:30 a.m. Hong Kong time on Wednesday. The largest cryptocurrency in the world by market capitalization jumped beyond $45,000 on Tuesday, reaching its highest point since April 2022.
