Bitcoin evangelist Michael Saylor has made $370 million from the sale of MicroStrategy shares this year. MicroStrategy’s founder entered into a stock-sale agreement with the company last year to sell his shares in the company until April 2024 this year.

Michael Saylor Made $370 Million From Share Sale

MicroStrategy founder and executive chairman Michael Saylor pocketed $370 million from MicroStrategy stock sale, reported CNBC on April 19. On Wednesday, he also sold shares worth $3,023,309 with sales prices for these shares between $1,189.12 and $1,258.05.

Saylor made a stock-sale agreement with the company last year to sell up to 400,000 shares in the first four months of 2024. With 90% of the plan completed, Saylor has made substantial profits from stock sales. The increase in Bitcoin price and MicroStrategy stock price.

MicroStrategy currently owns 214,246 BTC, holding 1% of all Bitcoin in the world after the latest buy of 9,245 BTC for $623 million. Saylor is the largest shareholder of MicroStrategy, with Class B holdings worth about $2.3 billion. Moreover, Class A holdings of MicroStrategy shares are down to 30,000 shares after the latest sale disclosed on Thursday.

Michael Saylor remains bullish on MicroStrategy and Bitcoin to rally over $100,000. However, he expects BTC price to hit $350,000 in 2024 bull run.

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MicroStrategy Stock Price Drops 37%

MSTR price saw a 37% pullback from its March high, with a 15% drop coming this week as Bitcoin price saw a significant downfall. However, MicroStrategy shares are still up 81% YTD and 346% in 2023, becoming one of the top performers in bear market.

MicroStrategy price is trading up nearly 3% in the opening hours, with the price currently trading at 1,242 as Bitcoin price also rebounded after hitting a low of $59,600 in the last 24 hours.

Also, Bitcoin price currently trades 5% up at $65,000, with a 24-hour low and high of $59,600 and $65,481, respectively.

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The post Michael Saylor Pockets $370M From MicroStrategy Share Sale Before Bitcoin Halving appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am