Michael Saylor to Sell $216 Million in MicroStrategy Stock, Use Proceeds for Personal Obligations and Buying More Bitcoin
• Michael Saylor plans to sell $216M of his MicroStrategy stock options, consisting of 310,000 options granted in 2014 • He will sell about 5,000 shares per day for the next 4 months if the price meets a minimum threshold • Saylor said he wants to "address personal obligations" and "acquire additional bitcoin" with the proceeds • MicroStrategy holds about 189,000 bitcoin worth $8.5B, the largest corporate bitcoin treasury • MicroStrategy's share price rose 8.5% on Tuesday, defying a broader slump in crypto-focused stocks