Michael Saylor sells shares of Microstrategy - for more Bitcoin

Michael Saylor is selling shares of his company Microstrategy. He plans to use the proceeds for further Bitcoin purchases.

Michael Saylor is selling shares in his company Microstrategy worth about $216 million. Saylor previously stated that he wants to use the proceeds to further invest in Bitcoin.

According to a filing with the SEC, the entrepreneur sold 5,000 of his 315,000 stock options on Jan. 2. The entire transaction is expected to take four months to complete.

In the earnings announcement of MicroStrategy over the third quarter, in early November last year, Saylor said he planned to sell 5,000 MSTR shares a day over the next four months to meet "personal obligations" and more Bitcoin buy.

"Exercising this option will allow me to fulfill personal obligations and acquire additional bitcoin for my personal account," Saylor said in the conference.

The company MicroStrategy property 189,150 Bitcoin worth $8.5 billion.