MicroStrategy (MSTR) executive chairman Michael Saylor began to sell $216 million worth of stock options of the company on Tuesday, according to a regulatory filing with the U.S. Securities and Exchange Commission.
The document shows that Saylor proposed the sale of 310,000 stock option awards granted in 2014, which will expire in April.
“Exercising this option will allow me to address personal obligations as well as acquire additional bitcoin (BTC) to my personal account,” Saylor said during the call. “… I continue to be optimistic about MicroStrategy’s prospects and should note that my equity stake in the company after these sales will remain very significant.”
Bitcoin’s price has risen over recent months, trading around $45,000 as of press time (midnight UTC). Market participants expect a spot bitcoin exchange-traded fund (ETF) approval from the U.S. Securities and Exchange Commission in the coming weeks, which would increase potential exposure to the asset from retail and institutional investors.
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