MicroStrategy’s Saylor Sells $216M of His Shares to Buy More Bitcoin

• MicroStrategy’s executive chairman, Michael Saylor, is selling $216 million worth of company shares.
• Saylor plans to use the proceeds to expand his personal Bitcoin holdings.
• The sell-off began with 5,000 shares on January 2, with 5,000 shares scheduled to be sold every trading day for the next four months.

MicroStrategy‘s executive chairman, Michael Saylor, has begun selling $216 million worth of his shares in the company. The decision reveals Saylor’s intention to utilize part of the proceeds to expand his personal Bitcoin holdings.

Saylor, a prominent advocate for cryptocurrency adoption, unveiled this plan in a filing with the U.S. Securities and Exchange Commission (SEC). The regulatory filing reveals that Saylor is selling 315,000 MicroStrategy shares acquired via stock options. 310,000 of these were granted in 2014 and are set to expire in April of this year.

Saylor has already begun the sell-off, initiating the process with the sale of the first tranche consisting of 5,000 shares on January 2. During MicroStrategy’s third-quarter earnings call, he disclosed his intention to sell 5,000 shares per trading day over the next four months, subject to a m…

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