NFT News by Thebittimes.Com

Michael Saylor has lost $105 million on his latest purchase of bitcoin for MicroStrategy. As usual, the CEO issued convertible debt — loans that may convert to equity and dilute prior shareholders — to purchase 11,931 bitcoins on June 20, 2024. On that date, MicroStrategy purchased Bitcoin at $65,883 apiece. Today, each of those coins is worth just $57,000 — a 13.5% decline in less than three weeks. Saylor’s latest bitcoin buy has lost $105 million since June 20. June 20th was not Saylor’s only ill-timed purchase. Since the leverage-hungry CEO started his debt-for- Bitcoin spree, MicroStrategy has purchased Bitcoin above current prices nine times . March 12, 2021: $15 million at $57,146 per bitcoin April 5, 2021: $15 million at $59,339 May 13, 2021: $15 million at $55,387 November 29, 2021: $414.4 million at $59,187 December 9, 2021: $82.4 million at $57,477 March 11, 2024: $821.7 million at $68,477 March 19, 2024: $623 million at $67,382 Apr...

Michael Saylor, MicroStrategy’s Executive Chairman, has initiated a four-month plan to sell $216 million of his MicroStrategy shares , previously stating his intention to use part of the proceeds to buy additional Bitcoin (BTC). Saylor revealed in a Jan. 2 filing with the U.S. Securities and Exchange Commission that he began selling his 315,000 stock options, awarded in April 2014, which are due to expire by Apr. 30, 2024. Per the filing, Saylor commenced the selling process on Jan. 2, beginning with the first set of 5,000 shares . During MicroStrategy’s third-quarter earnings call on Nov. 2, Saylor announced his strategy to sell approximately 5,000 shares daily over the next four months. This plan is contingent on the shares meeting a predetermined minimum price. In the company’s 10-Q filing on Nov. 1, he had previously declared that he was authorized to sell up to 400,000 shares from his vested options by Apr. 26. Saylor’s decision to sell part of his ...

Michael Saylor’s digital software giant bought 16,130 BTC, increasing the worth of the company’s total Bitcoin holdings to over $6 billion at current prices. MicroStrategy, one of the largest corporate holders of Bitcoin (BTC), bought more of crypto’s leading token by market cap according to founder Michael Saylor and a Nov. 29 filing with the Securities and Exchange Commission (SEC). Saylor’s firm purchased an additional 16,130 BTC at an average price of $36,785 per Bitcoin. This scoop raised MicroStrategy’s total Bitcoin portfolio to some 174,530 coins acquired for  $30,252 on average. As crypto.news reported, MicroStrategy spent $5.3 million bolstering its BTC holdings following the close of Q2 2023. MicroStrategy has acquired an additional 16,130 BTC for ~$593.3 million at an average price of $36,785 per #bitcoin. As of 11/29/23, @MicroStrategy now hodls 174,530 $BTC acquired for ~$5.28 billion at an average price of $30,252 per bitcoin. $MSTR https://t.co/3XHhpIvsuA ...