MicroStrategy Inc. (NASDAQ: MSTR) co-founder Michael Saylor recently made a surprising move by selling a significant number of company shares ahead of the U.S. Securities and Exchange Commission's approval of ETFs focused on Bitcoin (CRYPTO: BTC).
Saylor, the executive chairman of MicroStrategy, sold between 3,882 and 5,000 shares between Jan. 2 and Jan. 10, coinciding with the SEC's announcement regarding Bitcoin ETFs. This unexpected move reportedly added over $20 million to Saylor's portfolio.
This is Saylor's first sale of shares in almost 12 years, reported Bloomberg.
A spokesperson for MicroStrategy clarified to the outlet that the sale is part of a pre-existing plan disclosed in a filing from the previous ...