MicroStrategy Chairman Sells $216 Million in Stock Options to Buy More Bitcoin
MicroStrategy's executive chairman, Michael Saylor, has begun selling $216 million worth of stock options in the company, according to a regulatory filing. Saylor plans to sell 5,000 shares per trading day over the next four months, subject to a minimum price condition. He stated that the sale will allow him to address personal obligations and acquire additional bitcoin for his personal account. Despite a market-wide slump of cryptocurrency-focused stocks, shares of MicroStrategy gained 8.5% on Tuesday, and the company remains the largest corporate holder of bitcoin with 189,000 BTC in its treasury.
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