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Microstrategy's Saylor sells $216M in stock as shares surge on bitcoin bounce

Published 01/03/2024, 06:26 AM
Updated 01/03/2024, 06:28 AM
© Reuters Microstrategy (MSTR) CEO Saylor sells $216 million in stock as share surge on bitcoin bounce
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In a Form 144 filing, Microstrategy, Inc. (NASDAQ:MSTR) co-founder and executive Chairman, Michael Saylor, disclosed the sale of 315,000 common shares worth approximately $216 million via his broker Merrill Lynch. The expected date of the sale was 01/02/2024.

Saylor acquired 310,000 of the shares through a 2014 stock option award and the other 5,000 on 01/02/2024 through a stock option exercise.

The sale came as Microstrategy's stock has surged 384% over the last year as Bitcoin prices have rebounded sharply, up 169% over the same period.

As of December 26, 2023, MicroStrategy held an aggregate of approximately 189,150 bitcoins, which were acquired at an aggregate purchase price of approximately $5.895 billion and an average purchase price of approximately $31,168 per bitcoin, inclusive of fees and expenses. Based on the current price of Bitcoin, the holding is worth approximately $8.48 billion.

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