Michael Saylor: New Profits from MicroStrategy
Date: 2024-04-22 Author: Henry Casey Categories: BUSINESS
Michael Saylor, the founder of MicroStrategy, has again turned to selling shares of the company, increasing his profit to $370 million, the latest step in a divestment process that began last year.
Successful Transaction
In early 2024, Michael Saylor entered the next stage of selling MicroStrategy shares, which brought him significant profits. The total number of shares sold was approximately 400,000, consolidating its success in the strategic reorganization process.
The agreement to sell the assets was concluded back in 2023. Then Michael Saylor expressed his intention to sell 315,000 shares of the company between January and April 2024. Now he has successfully completed more than 90% of his plan, which confirms his strategic determination.
Profitability and Valuation
Thanks to the steady growth of MicroStrategy's assets, Michael Saylor was able to increase his profit to $370 million. Note that since the beginning of 2023, the company's share price has increased from $141 to $1,950, reaching a historical high. However, experts have expressed concerns about their overestimation.
MicroStrategy, founded in 1989, began its journey as a software consulting firm. However, in mid-2020, it introduced a strategy to enter the cryptocurrency market. MicroStrategy currently has 189,150 BTC (more than $12.5 billion), which is more than 1% of the total Bitcoin supply.
The sale of MicroStrategy shares was another important step in Michael Saylor's strategy. His success underscores the strategic importance of his decisions and confirms his position as an influential entrepreneur in the world of cryptocurrencies and finance.
