Michael Saylor Sells $216 Million in MicroStrategy Shares

Michael Saylor, the founder of MicroStrategy, has sold 315,000 shares of the analytics software provider, amounting to nearly $216 million. This was disclosed in a statement to the SEC.

In December, Saylor announced plans to sell up to 400,000 shares of the company between January 2 and April 26, 2024.

Over the past year, the company’s stock price has surged by 372%. At the time of writing, shares are trading at $690.

Earlier, Saylor called Bitcoin the winner of 2023. His followers anticipate the first cryptocurrency to rise to $100,000 in 2024.

In December, the MicroStrategy founder suggested that the launch of a spot Bitcoin ETF could be “the biggest event on Wall Street in the last 30 years.” He believes the new instrument will trigger a “demand shock” for Bitcoin, followed by a “supply shock” from the halving.

The first cryptocurrency will either fall to zero or soar to $1 million, he noted. For the latter, the asset would need institutional-level legitimacy, according to the expert.

Back in December, MicroStrategy purchased an additional 14,620 BTC, increasing its Bitcoin reserves to 189,150 BTC, acquired for $5.9 billion at an average price of $31,168.