Michael Saylor Selling MicroStrategy Shares Worth $216M, To Buy Bitcoin

Amid the race to get the spot Bitcoin ETF approval before the next deadline of January 10, 2023, Michael Saylor, the founder and Chairman of MicroStrategy, is selling $MSTR shares worth around $216 million, in what could be a strategic move to accumulate more of Bitcoin (BTC).

Also Read: Crypto Transactions Over $10,000 Face Stricter IRS Scrutiny Under New US Rules

Michael Saylor To Buy More BTC

According to a form 144 filing submitted to the U.S. Securities and Exchange Commission (SEC) on January 2, 2024 on the notice of proposed sale of the shares, Saylor is selling as many as 315,000 MicroStrategy shares. This decision comes amid high gains for Microstrategy (MSTR) Stock Price in the last few weeks. In the past month, the MSTR stock went up by as much as 21.65%, as compared to the 13.30% rise in Bitcoin (BTC) Price during the same period.

Also Read: Bitcoin ETF: How Will BlackRock Balance Fees with Market Dominance?

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