- According to reports, MicroStrategy founder Michael Saylor sold shares of the company just before the launch of spot Bitcoin ETFs.
- Between January 2 and January 10, Saylor sold between 3,882 and 5,000 shares, earning approximately $20 million.
News outlets have revealed that Michael Saylor, the founder of MicroStrategy, sold shares of the company prior to the approval of spot Bitcoin ETF applications by the US Securities and Exchange Commission. Bloomberg has reported this development.
Journalists state that between January 2 and January 10, 2024, Saylor sold anywhere from 3,882 to 5,000 shares, totaling a value of over $20 million. They also note that this is the first instance in 12 years in which the head of MicroStrategy has sold any shares.
A spokesperson for the company has confirmed the sale of securities. They added that the plan had been disclosed in the previous year and is “not related to the recent ETF approval.”
“According to the plan, scheduled sales of up to 5,000 shares will be carried out daily from January 2 to April 26, 2024. It is projected that up to 400,000 shares will be sold during this period,” stated a representative from MicroStrategy.
Earlier this year, reports surfaced that Saylor intended to sell 315,000 shares of the company, amounting to approximately $216 million, with a portion of the proceeds to be used for purchasing Bitcoin.