- MicroStrategy co-founder Michael Saylor sets sights on expanding Bitcoin holdings.
- Saylor has commenced the sale of his shares.
- MicroStrategy is the largest public corporate holder of Bitcoin.
U.S.-based technology company MicroStrategy has been on a committed Bitcoin buying spree, with aspirations of becoming the largest corporate BTC holder. In December 2023, the firm grew its Bitcoin holdings to 189,150, establishing its position as one of the largest Bitcoin whales in the industry.
Against this backdrop, MicroStrategy’s pro-BTC co-founder, Michael Saylor, is making a strategic move by liquidating personal stock holdings to acquire more of the coveted asset.
Michael Saylor Eyes Bitcoin Acquisition
In a filing to the Securities and Exchange Commission on Tuesday, January 2, Michael Saylor formally announced the commencement of the liquidation of approximately 315,000 of his shares in MicroStrategy.
Sponsored
The sale, worth $216 million, was initially proposed in November 2023 and is scheduled to run from January 2 to April 26, with daily transactions of 5,000 shares.
Saylor underscored that the proceeds from the liquidation will not only fulfill personal commitments but also contribute to expanding his personal Bitcoin holdings.
“Exercising this option will allow me to address personal obligations as well as acquire additional Bitcoin to my personal account,” he said.
The MicroStrategy chairman has also expressed optimism for an imminent bull run this year, anticipating a catalyst in the form of SEC approval for a Bitcoin ETF.
Sponsored
He emphasized that the approval will result in a consequential “demand shock,” coinciding with a reduction in Bitcoin supply by the asset halving anticipated in the second quarter of 2024, catalyzing a significant market rally.
Read more on the largest Bitcoin whales in the United States:
Who Owns More Bitcoin, Uncle Sam or MicroStrategy?
Orbit Bridge moves to recover losses from the December 31 hack; read more:
Orbit Eyes Stolen $82 Million Recovery with Amped Efforts
