MicroStrategy’s co-founder, Micheal Saylor, appears to be formulating his own ‘Bitcoin Strategy’. A recent report indicates that Saylor has started to liquidate some of his company’s stocks with the intention of acquiring more of the leading cryptocurrency, Bitcoin.
In a Bloomberg report, it was revealed that Saylor sold between 3,882 and 5,000 MicroStrategy shares on certain days prior to the SEC’s approval of the Spot Bitcoin ETFs. These sales reportedly earned Saylor over $20 million in total, marking the first time he has sold shares in nearly 12 years.
Saylor plans to use some of the profits from these sales to invest in Bitcoin. It was previously reported that Saylor intended to sell up to 315,000 of the company’s shares to increase his BTC holdings. These shares were part of the stock option that Saylor received from the company in 2014. As part of his strategy, Saylor will sell approximately 5,000 shares each trading day until April 26. Saylor, a well-known advocate of Bitcoin, seems to be fully committed to the leading crypto token.
Saylor has predicted that 2024 will be a prosperous year for Bitcoin, citing certain factors as the reason for his optimism. He also suggested that the crypto token would continue to see significant price increases. Therefore, it is not surprising that Saylor is seeking to acquire as much BTC as possible.
However, recent data from MarketWatch shows that MicroStrategy’s stock has fallen by over 23% in the last five days. This is noteworthy, as it was anticipated that the company might experience a setback following the approval of the Spot Bitcoin ETFs. This prediction was based on the assumption that some investors may have bought MSTR stocks to gain exposure to BTC.
With Spot Bitcoin ETFs now available, these investors might decide to shift some of their funds from MicroStrategy to these investment vehicles. Such sell-offs could potentially impact the stock’s price, which could be the reason for MSTR’s recent decline. Despite the potential competition from Bitcoin ETFs, Saylor remains unfazed, asserting that MicroStrategy offers a unique product that these funds cannot replicate.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Micheal Saylor |
| Companies | Bloomberg, SEC, Bitcoinist, MarketWatch, Tradingview.com, Business Insider, MicroStrategy |
| Currencies | Bitcoin |
| Securities | MicroStrategy |
