Michael Saylor’s MicroStrategy May Reveal More Bitcoin Buys Next Week
Michael Saylor, MicroStrategy’s executive chairman, signed a stock sale agreement with the company last year to sell up to 400,000 shares in the first four months of 2024. Michael Saylor, who will make a profit of $ 370 million before the Bitcoin halving with 90% of the sales completed, will you sell the rest of MSTR shares in exchange for Bitcoin?
Moreover, MicroStrategy has not yet bought the Bitcoin price dip and an announcement will most likely be made before confirming the Bitcoin price return to its all-time high.
Will Michael Saylor Sell More MicroStrategy Shares?
MicroStrategy founder and executive chairman Michael Saylor pocketed $370 million from the MicroStrategy stock sale. According to the share sale agreement, Bitcoin Evangelist Saylor will be able to sell up to 400,000 shares in the first four months of 2024.
However, Michael Saylor sold only 90% of the shares in the plan and 10% of the shares are still available under the share sale agreement. Saylor’s Class A MicroStrategy shares fell by 30,000 shares following the latest selloff announced Thursday. MSTR shares valued at $3,023,309, with sales prices ranging from $1,189.12 to $1,258.05, according to a filing with the U.S. SEC.
Spot Bitcoin ETFs and the rise in Bitcoin price in anticipation of the Bitcoin halving have helped MicroStrategy stock price rise nearly 100% since the beginning of the year. There is a good chance that Michael Saylor will sell MSTR puts and MicroStrategy will announce its Bitcoin purchase next week. The company was raising funds to purchase Bitcoin and MicroStrategy is favoring the decline.
Also Read: ripple and SEC Update — Key Make or Break Moment in Case, XRP Price
MicroStrategy Bitcoin Assets and Price Performance
MicroStrategy currently holds 214,246 BTC, holding 1% of all Bitcoin in the world after the latest purchase of 9,245 BTC for $623 million. Saylor is MicroStrategy’s largest shareholder, with Class B assets worth approximately $2.3 billion. Therefore, the recent strategic selling of MSTR shares is not indicative of faith in MicroStrategy and Bitcoin.
MSTR price has seen a 37% decline from its March highs and a 15% decline is expected this week as Bitcoin price sees a significant decline. But MicroStrategy shares are still up 81% year-to-date and 346% in 2023, making them one of the best performers in the market.
Bitcoin price has fallen over 1% in the last 24 hours and the price is currently trading at $63,952. The 24-hour low and high are $63,036 and $65,381 respectively. The market continues to rise due to the continued upward movement in BTC price.
Also Read: Bitcoin ETF – BlackRock, Fidelity Show Signs of Recovery, Will BTC Price Rise Next Week?
✓ Share:
Varinder has 10 years of experience in the Fintech industry and has been dedicated to blockchain, crypto and Web3 development for over 5 years. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles, and articles. Varinder believes in the great potential of future innovative technologies with parofix Media. He currently covers the latest updates and developments in the crypto industry.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
#Michael #Saylors #MicroStrategy #Reveal #Bitcoin #Buys #Week
