Founder of MicroStrategy plans to sell 310,000 stock options to raise 216 million magnesium for increased Bitcoin purchase

Founder of MicroStrategy plans to sell 310,000 stock options to raise 216 million magnesium for increased Bitcoin purchase

Founder of MicroStrategy plans to sell 310,000 stock options to raise 216 million magnesium for increased Bitcoin purchase

According to a report from CoinDesk, a regulatory filing from the U.S. Securities and Exchange Commission (SEC) reveals that MicroStrategy’s Chairman and CEO, Michael Saylor, will begin selling company stock options worth a total of $216 million starting on Tuesday.

The filing shows that Michael Saylor plans to sell 310,000 stock options awarded in 2014, which will expire in April.

According to Michael Saylor’s remarks during the fourth-quarter conference call, he plans to sell 5,000 shares per trading day over the next four months, subject to certain minimum price conditions.

During the conference call, Michael Saylor stated:

“MicroStrategy is the largest holder of Bitcoin among publicly traded companies, currently owning approximately 189,000 BTC, valued at around $8.5 billion at the current price.”