According to a report from CNBC, MicroStrategy founder Michael Saylor has earned a whopping $370 million from the sale of 370,000 Class A shares since January. Some speculate that he may use this money to continue buying Bitcoin.
Background:
MicroStrategy saw its stock price surge by 750% after purchasing Bitcoin, leading to speculation that investing in BTC may become a global corporate trend.
As the Bitcoin bull market continues, MicroStrategy, the dominant holder of Bitcoin among US listed companies, has seen its stock price skyrocket from $685 to $1,201 since the beginning of the year, outperforming tech giants such as Apple and Tesla.
Michael Saylor earns $370 million from selling MicroStrategy stocks
Against this backdrop, according to a report by CNBC on the 19th, MicroStrategy founder Michael Saylor has been able to generate $372.7 million in revenue from the sale of 400,000 Class A MicroStrategy stocks, thanks to a stock selling plan he signed with the company last year, allowing him to sell the shares from January to the end of this month.
MicroStrategy’s stock price has increased more than seven-fold in five years
MicroStrategy was originally a technology company that provided data analytics, software development, and cloud computing services, but its main business was not outstanding and did not generate huge profits.
However, since August 2020, Michael Saylor announced that MicroStrategy would continue to invest in Bitcoin, and its stock price has risen along with the development of Bitcoin, surging from $140 to over $1,200 in the past five years, an increase of 709%. Therefore, the substantial profits Michael Saylor has gained from his stocks can be attributed to the rise of the Bitcoin bull market.
Source: Google Finance
Will Michael Saylor continue to accumulate Bitcoin?
As a Bitcoin enthusiast, Michael Saylor continues to accumulate Bitcoin. According to current data from bitcointreasuries, MicroStrategy has spent $7.533 billion to purchase 214,246 Bitcoins. When Bitcoin surpassed $70,000 earlier this month, the account’s highest floating profit reached $7.647 billion.
At the same time, Michael Saylor has repeatedly stated, “I will never sell any Bitcoin” and “buying Bitcoin is an exit strategy.” Therefore, some speculate that he may use the substantial funds from the stock sale to continue accumulating Bitcoin.
However, Michael Saylor himself has not provided any explanation for the use of these funds, so we should continue to follow the situation.
Further reading:
Michael Saylor: Insisting on buying Bitcoin “never selling”! MicroStrategy’s BTC holdings have nearly $4 billion in floating profits.
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