MicroStrategy founder Michael Saylor will sell shares of the technology giant he created worth about $216 million.
According to available information, the entrepreneur intends to sell 315,000 shares. Last fall, Saylor said the sale of the asset would take place between January 2 and April 25, 2024.
The proceeds will be used to resolve issues related to personal “financial obligations,” the entrepreneur indicated. Saylor also noted that he will spend part of the money on purchasing Bitcoin.
MicroStrategy is one of the largest holders of the first cryptocurrency. Her account holds 189,150 BTC (about $8.6 billion). The company last replenished its Bitcoin reserves in December, purchasing 14,620 BTC.
Since the start of 2023, MicroStrategy's stock price has risen from $141 to $693, according to TradingView. However, experts at 10x Research consider them overvalued.
Source: Cryptocurrency
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