Michael Saylor, an ardent advocate for Bitcoin and MicroStrategy’s founder, has pocketed approximately $370 million by offloading his company shares between the start of this year up till April 2024, as per a pre-existing agreement with MicroStrategy.
Michael Saylor Made $370 Million From Share Sale
Michael Saylor, the founder and chairman of MicroStrategy, made a profit of $370 million by selling his company’s stocks as reported by CNBC on April 19. Additionally, he sold shares worth approximately $3.02 million on Wednesday, with individual share sale prices ranging between $1,189.12 and $1,258.05.
Last year, Saylor entered into an agreement with the company to sell up to 400,000 shares of their stock within the first quarter of 2024. With nearly all the planned sales completed (approximately 90%), Saylor has seen significant financial gains as a result of selling these shares, thanks to the surge in both Bitcoin’s and MicroStrategy’s stock prices.
MicroStrategy now controls approximately 214,246 Bitcoin, which represents around 1% of the total existing Bitcoin supply following their recent purchase of 9,245 coins for an investment of $623 million. Michael Saylor is the principal owner of MicroStrategy, with a net worth from Class B shares estimated at roughly $2.3 billion. Notably, the number of Class A MicroStrategy shares has decreased to 30,000 following a recent sale disclosed on Thursday.
Michael Saylor continues to be optimistic about MicroStrategy and Bitcoin’s potential to surge past $100,000. He further predicts that Bitcoin’s price could reach an astounding $350,000 during the upcoming bull market in 2024.
MicroStrategy Stock Price Drops 37%
The cost of MSTR shares experienced a 37% decline from their March peak, with a 15% dip taking place this week. This downward trend coincided with a substantial decrease in Bitcoin’s price. Nevertheless, MicroStrategy’s stock has demonstrated impressive growth, increasing by 81% year-to-date and an astonishing 346% in the current market downturn. Consequently, it stands out as one of the top gainers amidst the bearish conditions.
The cost of MicroStrategy has risen by almost 3% during the early trading session, reaching a current value of $1,242. Simultaneously, Bitcoin bounced back from its recent low of $59,600 in the previous 24 hours.
Additionally, the cost of one Bitcoin is presently around $65,000, representing a 5% increase. The price reached a low of $59,600 and a high of $65,481 within the last 24 hours.
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2024-04-19 17:23