MicroStrategy stock has outperformed Bitcoin at the start of the year, gaining three times as much as Bitcoin, according to Blockworks. Executive Chairman and former CEO Michael Saylor sold 400,000 shares, cashing in $410.8 million. Saylor personally holds $1 billion in Bitcoin.
Other company executives sold $215 million worth of stock between October 2020 and November 2021. During the same period, Bitcoin rose from $11,000 to nearly $69,000, and MicroStrategy stock rose from $165 to nearly $900.
MicroStrategy has purchased 37,350 bitcoins this year, spending about $2.42 billion. In total, the company spent $8.35 billion to buy 226,500 bitcoins, which are currently worth $13.74 billion, a 65% increase.
Although MicroStrategy has had poor earnings this year, its stock price has been closely correlated to the value of its Bitcoin reserves. The company reported $3.905 billion in liabilities at the end of June.
