Michael Saylor, the co-founder of MicroStrategy, recently unveiled plans to convert $216 million worth of stock options into Bitcoin. The revelation surfaced in a filing submitted to the U.S. Securities and Exchange Commission (SEC), outlining Saylor’s intention to trade 310,000 stock option awards obtained back in 2014.
During MicroStrategy’s fourth-quarter earnings call, Saylor shed light on the motivation behind this move. “I was granted a stock option in 2014 for 400,000 shares, set to expire next April if not exercised,” he explained. To manage this, Saylor intends to execute and sell 5,000 shares per trading day, starting from January 2nd until April 25th, contingent upon meeting a minimum price condition.
Saylor highlighted that this strategic maneuver not only addresses impending financial commitments but also facilitates the augmentation of his personal Bitcoin reserves. “Exercising this option will enable me to fulfill financial obligations and bolster my holdings in Bitcoin,” he emphasized.
This move underscores Saylor’s ongoing commitment to Bitcoin, leveraging company assets to strengthen personal cryptocurrency investments. As MicroStrategy continues its trajectory in the tech and investment spheres, Saylor’s strategic shift remains closely monitored within financial circles for its potential impact on both the company and the crypto market.