MicroStrategy CEO’s personal Bitcoin holdings to cross $1 billion

Michael Saylor, the co-founder and executive chairman of MicroStrategy Inc., is selling $216 million worth of his shares in the business software company. This move is part of a plan to exercise stock options granted in 2014 and to acquire additional Bitcoin for his personal account.

According to a filing with the U.S. Securities and Exchange Commission (SEC), Saylor proposed the sale of 310,000 stock option awards that will expire in April. He plans to exercise and sell about 5,000 shares each trading day from January 2 to April 25, subject to a minimum price condition.

Saylor’s decision to sell the shares and purchase Bitcoin aligns with his long-standing advocacy for the primary cryptocurrency. He mentioned during MicroStrategy’s third-quarter earnings call that exercising the stock options would enable him to address personal obligations and increase his Bitcoin holdings. Saylor has been a vocal proponent of Bitcoin since reversing his initial skepticism in 2013.

MicroStrategy, under Saylor’s leadership, has become the largest corporate holder of Bitcoin, with about 189,000 BTC in its treasury, valued at roughly $8.5 billion at current prices. Despite a market-wide slump in cryptocurrency-focused stocks, shares of MicroStrategy rose by 8.5% on Tuesday following the news.

Saylor’s personal Bitcoin holdings are also substantial. He revealed in a 2020 tweet that he had acquired 17,732 BTC at an average purchase price of $9,882. At current prices, his holdings are worth over $800 million, placing him among the top Bitcoin addresses.

Despite selling a portion of his MicroStrategy shares, Saylor remains optimistic about the company’s future and will maintain a significant equity stake. MicroStrategy’s stock price has been positively influenced by the recent surge in Bitcoin’s price, with Saylor celebrating the company’s performance and its strategic investment in Bitcoin.

MicroStrategy’s extensive hoard of Bitcoins witnessed a bleak phase in 2022 when the market plummeted 80% from its peak in November 2021. However, the rumors around the approval of a Bitcoin ETF and the impending halving event acted as the needed tailwinds, nearly tripling the digital currency’s price this year. Specifically, MicroStrategy has reported a “paper gain” of $2.4 billion on its Bitcoin holdings.