Michael Saylor Offloads MicroStrategy Shares to Buy Bitcoin

The sale was initially proposed in November 2023, and will run from January 2 through April 26.

People riding on a MicroStrategy rockets with Bitcoins coming out of the fire.
Created by Kornelija Poderskytė from DailyCoin
  • 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.

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.

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

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Grace Abidemi

Grace Abidemi, a cryptocurrency reporter at DailyCoin, covers industry developments and trends. She previously worked as a freelance writer. With a Bachelor's degree in German Language and certifications in marketing and storytelling, Grace creates engaging content. When not working, she's in Nigeria, mastering cooking and canvas painting, and enjoys learning about different cultures and languages.