Michael Saylor, the founder and former CEO of the enterprise software firm MicroStrategy, has recently announced plans to sell his personal holdings of MSTR stock worth approximately $216 million. It is worth noting, however, that Saylor has not indicated any intention to dispose of any of his holdings in Bitcoin, a cryptocurrency he has publicly supported.
Stock Value Practically Quadrupled YoY
Microstrategy, a software company, has been buying Bitcoin for a while now. The CEO of the company, Michael Saylor, believes that Bitcoin is a better store of value than cash reserves. He thinks that Bitcoin is less likely to lose value over time. Microstrategy has become the largest corporate holder of Bitcoin. This has helped the company’s stock price surge by 372% since the beginning of 2022.
MicroStrategy has acquired an additional 14,620 BTC for ~$615.7 million at an average price of $42,110 per #bitcoin. As of 12/26/23, @MicroStrategy now hodls 189,150 $BTC acquired for ~$5.9 billion at an average price of $31,168 per bitcoin. $MSTR https://t.co/PKfYY59sTW
— Michael Saylor⚡️ (@saylor) December 27, 2023
Now, Michael Saylor is planning to sell some of his company’s stock. This could be because he wants to profit from the surge in the stock price. Or, it could be because he wants to keep more of his own stock. Microstrategy’s stock price is linked to the value of Bitcoin. So, if Bitcoin’s value goes up, so does Microstrategy’s stock price.
Microstrategy’s stock is a good way for institutional clients to invest in Bitcoin without dealing with the complications of the crypto industry. Microstrategy is like a Bitcoin ETF that also produces software. This makes it easier for clients to invest in Bitcoin without having to worry about the risks of the crypto industry.