Bitcoin Proxy MicroStrategy Director Sells 40K Company Shares Worth $12M As Stock Hits All-Time High

MicroStrategy Inc. MSTR director Leslie J. Rechan has executed a significant sale of company shares, amounting to approximately $12 million, as per a recent SEC filing. The transactions were disclosed on Wednesday.

Don't Miss:

• Over the last five years, the price of gold has increased by approximately 83% — Investors like Bill O’Reilly and Rudy Giuliani are using this platform to create customized gold IRAs to help shield their savings from inflation and economic turbulence. 
• This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro, and Sweetgreen in just three years – here's how there's a limited time opportunity to invest at $1,000 for only $0.50/share before closing date.

What Happened: Rechan exercised stock options to acquire 40,000 shares of MicroStrategy's Class A common stock on Nov. 7 and Nov. 11, 2024. The adjusted exercise prices were $12.746 and $12.957 per share, following a 10-for-1 stock split in August. Originally, these prices were $127.46 and $129.57.

On Nov. 7, Rechan sold 11,171 shares at an average price of $275.04 and 8,829 shares at $275.80. On Nov. 11, he sold 17,800 shares at $325.23 and 2,200 shares at $326.60. The total value of these transactions reached approximately $12 million.

Trending: If you invested $100 in DOGE when Elon Musk first tweeted about it in 2019, here’s how much you’d have today.

MicroStrategy stock is considered an alternative to Bitcoin.

Despite these sales, Rechan retains 4,970 shares directly and holds indirect ownership of 20,000 shares through the Meredithe Rechan 2021 Family Trust. The August stock split significantly reduced the exercise price of Rechan's options, enhancing the profitability of these transactions.

See Also: Dogecoin millionaires are increasing – investors with $1M+ in DOGE revealed!

Why It Matters: The timing of the share sale coincides with a period of heightened activity for MicroStrategy. Recently, the company’s shares have been trading higher, driven by the surge in Bitcoin BTC/USD prices, which reached new all-time highs over the weekend. MicroStrategy, known for its substantial Bitcoin holdings, announced raising $2 billion to purchase more Bitcoin, aligning with the cryptocurrency’s rally.

Bitcoin’s price climbed to $80,000 for the first time on Sunday and continued to rise, trading around $81,870 on Monday morning, marking an 18.5% increase over the past week. This surge follows the election of Donald Trump, who is perceived as a pro-crypto candidate, potentially creating a more favorable regulatory environment for cryptocurrencies.

Read Next:

• This well known prop trading firm is offering 100% of your first $25,000 profit per account and 90% after that. Here's how to get a special 50% OFF CODE that lets you start out with monthly investments as low as $147 today.
• With over 7.8K investors including Meta, Google, And Amazon Execs — this AI Startup's valuation has skyrocketed from $5 million to $85 million in just three years. Be an early investor with just $1,000 for only $0.50/share today before the offer closes in 2 weeks.