MicroStrategy founder Michael Saylor made $370 million this year by selling company stock

2024-04-19 20:44:55BlockBeatsShare to:

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According to BlockBeats, on April 19, CNBC reported that Michael Saylor, a loyal Bitcoin supporter and founder of MicroStrategy, reached a stock sale plan with the company last summer, allowing him to sell up to 400,000 shares of the company's stock in the first four months of 2024. Thanks to the sharp rise in MicroStrategy's stock price, the 59-year-old crypto billionaire has made about $370 million in profits through the plan so far. Saylor founded MicroStrategy in 1989 and is still the chairman. Since announcing its entry into the cryptocurrency market in mid-2020, the company has used its balance sheet and acquired more than 214,000 bitcoins through the capital market, equivalent to 1% of the total amount of bitcoin mined so far, worth about $13.6 billion. Although MicroStrategy's stock price has fallen 37% from its March high, it has still risen 91% so far this year and is one of Wall Street's darlings. Some analysts believe that Saylor's stock sell-off is entirely planned and does not reflect his confidence in the company's prospects, and investors should not misunderstand it.

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