Michael Saylor’s $216M MicroStrategy Stock Plan

Jan. 3, 2024
Michael Saylor’s $216M MicroStrategy Stock Plan

Michael Saylor, an executive chairman of Microstrategy, started implementing his plan to sell a whopping $216 million worth of company stock options. Such proceeds will be used for personal purposes and purchasing additional bitcoin on his account.

Michael Saylor, a world-scale bitcoiner, has decided to put his plan into practice and begin selling $216 million worth of MicroStrategy (MSTR) stock options. This is confirmed as a regulatory document of S.E.C. comprising Saylor’s proposal. This proposal involves the sale of 310,000 stock options granted in 2014, which expire in April 2024.

Specifically, the 10-Q document of MicroStrategy’s third quarter revealed that Saylor can sell up to 400 thousand shares of these options that have matured until April 26th. According to reports, Saylor reportedly planned to sell at least 5,000 shares per trading day in the next four months.

Saylor Sells MicroStrategy Options for Bitcoin Purchase

Saylor would posit that behind the decision to implement MicroStrategy’s selling stock options plan lie personal reasons like wanting to buy more Bitcoin. Indeed, Saylor would declare:

“Exercising these options will allow me to meet estimated tax obligations and acquire additional bitcoin (BTC) for my account. I remain fully committed to MicroStrategy and its Bitcoin strategy, and I am steadfast in my conviction that the Company has never been stronger or better positioned.”

Here is the call where Saylor explains it all: @saylor, during the $MSTR Q4 conference call, confirms that he’s personally back purchasing additional #bitcoin options from MicroStrategy:

MicroStrategy has expanded its treasury holdings with the recent acquisition of 29,646 BTC. Consequently, the company now owns approximately 189,000 BTC. After its latest purchase in December, it holds the largest amount of Bitcoin. Ts holdings stand at roughly $8.5 billion at today’s prices.

MSTR Stocks Surge on BTC Bull Run

In the early days of 2024, Bitcoin (BTC) is undergoing a bullish surge, surpassing the $45,000 threshold. His cryptocurrency has reached just shy of $45,800 in this recent price rally. His price is the highest of all 2023 prices. t press time, BTC stands at $45,060.

The BTC super rally has significantly increased MicroStrategy and Coinbase stocks. In the U.S. premarket of Nasdaq yesterday, MicroStrategy recorded a +7.5% gain, while Coinbase marked a +4% increase. In the specific case of MicroStrategy, today, MSTR shares traded at $685.15, improving by +8.48% from yesterday. The current price is a growth of MSTR price by +81.33% over 6 months.

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Ammar Raza

Associate editor
Skilled in crafting compelling content, with a deep enthusiasm for blockchain technology. I offer precise and easily comprehensible perspectives on cryptocurrencies, decentralized finance, and the ever-evolving landscape. Count on me as a reliable resource to remain informed about the latest advancements in the world of crypto.