Summary
MicroStrategy Inc.’s co-founder Michael Saylor sold company shares worth over $20 million leading up to the SEC’s approval of Bitcoin ETFs. This is the first time he has sold shares in 12 years.
Key Points
1. MicroStrategy Inc.’s co-founder, Michael Saylor, has been selling company shares leading up to the US Securities and Exchange Commission’s approval of exchange-traded funds investing directly into Bitcoin.
2. According to data compiled by Bloomberg, Saylor sold between 3,882 and 5,000 shares on certain days between Jan. 2 and Jan. 10. The sales likely resulted in Saylor earning more than $20 million. This is the first time he has sold shares in nearly 12 years.
3. The SEC’s announcement about approving exchange-traded funds investing directly into Bitcoin seems to have influenced Saylor’s decision to sell company shares.