Michael Saylor Pockets $370M From MicroStrategy Share Sale Before Bitcoin Halving
Highlights
- MicroStrategy founder Michael Saylor made $370 million from MicroStrategy stock sale plan.
- The stock-sale agreement allowed Saylor to sell up to 400,000 shares in the first four months of 2024.
- MSTR price and Bitcoin price rally provides support to the firm and profits.
Bitcoin evangelist Michael Saylor has made $370 million from the sale of MicroStrategy shares this year. MicroStrategy’s founder entered into a stock-sale agreement with the company last year to sell his shares in the company until April 2024 this year.
Michael Saylor Made $370 Million From Share Sale
MicroStrategy founder and executive chairman Michael Saylor pocketed $370 million from MicroStrategy stock sale, reported CNBC on April 19. On Wednesday, he also sold shares worth $3,023,309 with sales prices for these shares between $1,189.12 and $1,258.05.
Saylor made a stock-sale agreement with the company last year to sell up to 400,000 shares in the first four months of 2024. With 90% of the plan completed, Saylor has made substantial profits from stock sales. The increase in Bitcoin price and MicroStrategy stock price helped successfully meet the goal.
MicroStrategy currently owns 214,246 BTC, holding 1% of all Bitcoin in the world after the latest buy of 9,245 BTC for $623 million. Saylor is the largest shareholder of MicroStrategy, with Class B holdings worth about $2.3 billion. Moreover, Class A holdings of MicroStrategy shares are down to 30,000 shares after the latest sale disclosed on Thursday.
Michael Saylor remains bullish on MicroStrategy and Bitcoin to rally over $100,000. However, he expects BTC price to hit $350,000 in 2024 bull run.
Also Read: Tether Expands USDT Support On TON Blockchain, Toncoin Price Soars 15%
MicroStrategy Stock Price Drops 37%
MSTR price saw a 37% pullback from its March high, with a 15% drop coming this week as Bitcoin price saw a significant downfall. However, MicroStrategy shares are still up 81% YTD and 346% in 2023, becoming one of the top performers in bear market.
MicroStrategy price is trading up nearly 3% in the opening hours, with the price currently trading at 1,242 as Bitcoin price also rebounded after hitting a low of $59,600 in the last 24 hours.
Also, Bitcoin price currently trades 5% up at $65,000, with a 24-hour low and high of $59,600 and $65,481, respectively.
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