MicroStrategy founder Michael Saylor entered into a stock-sale agreement with the company last year, allowing him to unload up to 400,000 shares this year through April.MicroStrategy shares have pulled back in the past month but are still up over 90% this year after soaring 346% in 2023.Michael Saylor, chairman and chief executive officer at MicroStrategy, during an interview at the Bitcoin 2023 conference in Miami Beach, Florida, US, on Thursday, May 18, 2023.
As of this week, Saylor has sold 370,000 shares totaling $372.7 million, according to filings. His Class A holdings are down to 30,000 shares as of theMark Palmer, an analyst at Benchmark, called the stock sales "entirely programmatic" because of the trading plan executed last year and not at all a reflection of Saylor's confidence in MicroStrategy or his view of the stock price.subreddit speculating that he's using the cash to buy bitcoin directly.
Even with the stock sales, the majority of Saylor's wealth remains wrapped up in his Class B holdings of MicroStrategy, along with the 17,732 bitcoins he purchased in 2020 that are currently worth about $1.1 billion.this week. The technical event happens every four years, cutting rewards for bitcoin miners in half and reducing the pace at which new bitcoins enter the market.
Benchmark's Palmer said there are plenty of reasons to remain bullish on MicroStrategy, especially with the halving just around the corner. Following past halving events, the price of bitcoin has jumped.
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