Michael Saylor Sells $373M in Microstrategy Stock Before Bitcoin Halving

Microstrategy (MSTR) founder Michael Saylor sold 370,000 shares of NSTR stock before the halving, raising $372.7 million in cash, TheCoinRepublic reported today. The sale is in accordance with an agreement he signed with the company last year, which gives him the right to sell a total of 400,000 shares by April. Mr. Sailer, who has been selling his shares on an ongoing basis since January, has reduced his holdings of Class A shares to 30,000 shares with the latest disclosed sale. Class A shares typically carry 10 votes per share, while Class B shares carry only one vote. He sold his MSTR shares at prices ranging from $1189.12 to $1258.05, totaling $3.023 million, according to an SEC filing made public last Thursday.

Despite the stock sale, the majority of his wealth is tied up in MSTR Class B shares and the 17,732 BTC he acquired in 2020, which is worth about $1.1 billion today. MSTR shares are up nearly 100% since the beginning of the year, driven by the launch of a Bitcoin spot ETF and the rising price of Bitcoin ahead of the Bitcoin halving. Michael Saylor has argued that Bitcoin will replace gold as a store of value. Microstrategy continues to accumulate bitcoin with the funds it raises.