MicroStrategy’s Saylor Sold Shares Daily in Runup to ETF Launch

MicroStrategy Inc.’s co-founder Michael Saylor has been selling company shares leading up to the US Securities and Exchange Commission’s approval of exchange-traded funds investing directly into Bitcoin.

The company’s executive chairman sold between 3,882 and 5,000 shares on certain days between Jan. 2 and Jan. 10, when the SEC made the announcement, data compiled by Bloomberg shows. The sales likely netted Saylor more than $20 million. It is the first time he has sold shares in nearly 12 years, the data shows.

A MicroStrategy spokesperson confirmed the sales noting that they are a part of a plan that ...