Michael Saylor Sells $216 Million in MicroStrategy Shares to Repay Debt and Invest in Bitcoin

Michael Saylor, the founder of MicroStrategy, sold 315,000 shares of the company for nearly $216 million, according to a filing with the U.S. Securities and Exchange Commission (SEC).

Saylor announced his intention to sell the shares in December 2023. He said he would use the proceeds to repay debt and invest in Bitcoin.

Saylor is one of the most vocal supporters of Bitcoin. He leads MicroStrategy, which owns more than 129,000 Bitcoin.

In December 2023, Saylor said that the launch of a spot Bitcoin ETF could be "the biggest thing on Wall Street in the last 30 years." He believes that the new instrument would create a "demand shock" for Bitcoin, followed by a "supply shock" from the halving.

Saylor believes that Bitcoin will either fall to zero or rise to $1 million. He said that the asset will need to gain institutional legitimacy for the latter to happen.

Key takeaways:

  • Michael Saylor sold 315,000 shares of MicroStrategy for nearly $216 million.
  • He said he would use the proceeds to repay debt and invest in Bitcoin.
  • Saylor is one of the most vocal supporters of Bitcoin.
  • He leads MicroStrategy, which owns more than 129,000 Bitcoin.
  • Saylor believes that the launch of a spot Bitcoin ETF could be "the biggest thing on Wall Street in the last 30 years."
  • He believes that Bitcoin will either fall to zero or rise to $1 million.
Author: Denis Tabyrtsa

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