Bitcoin giant Michael Saylor will sell nearly $216 million worth of shares in his software company MicroStrategy.
According to a document submitted on Tuesday (January 2nd), Sailer sold a total of 315000 shares, which he obtained through exercising stock options.
A spokesperson for MicroStrategy responded to Seler's stock sale by stating that the company had previously announced that Seler planned to sell up to 400000 shares between January 2 and April 26 this year.
Seler is a co-founder of enterprise software company MicroStrategy, which has been shifting towards a Bitcoin strategy since 2020.
So far, the company and its subsidiaries hold a total of approximately 189150 Bitcoins, accounting for nearly 1% of the circulating Bitcoin quantity. The company has become the listed company with the largest holdings of Bitcoin in the world.
Over the past year, Bitcoin has risen by 160%, supported by optimism that US regulators will soon approve the first spot Bitcoin exchange traded fund (ETF).
In recent months, traditional financial giants including BlackRock have applied extensively for cryptocurrency ETFs, revitalizing the cryptocurrency market after the FTX bankruptcy crisis.
Benefiting from the rise of Bitcoin, the largest digital asset, MicroStrategy's stock price has also surged by 372% in the past year, closing slightly above $685 per share on Tuesday, the highest level since December 2021.
Seler previously stated that regardless of whether US regulatory agencies approve spot Bitcoin ETFs, the company remains an attractive investment tool for investors seeking Bitcoin exposure.