Insiders sell Microstrategy stock after Bitcoin bull market

Microstrategy, a Virginia-based enterprise software company, has attracted the attention of crypto and financial news media with the atypicality of its CEO Bitcoin all-in strategy, Start in 2020, With some reporters Joking Since then, the company has evolved into something closer to Bitcoin (Bitcoin) Investment tools rather than software companies.

Documents recently submitted to the US Securities and Exchange Commission indicate that some of the company’s senior managers are ambivalent about implementing this strategy for a long time.

this Record It was revealed that Microstrategy’s chief financial officer Le Phong and chief technology officer Timothy Lang both sold stocks in August this year by exercising about 30% of the options they received as compensation.

As Bloomberg report, Lang exercised 10,000 granted options on August 26, and later sold all the converted shares, earning approximately US$7.1 million. In the case of Phong, he exercised 20,000 options between August 2 and 6 and then sold the stock for a little over $7.3 million. Everyone holds about 20,000 options.

CEO Michael Seller has not sold any shares since 2012, although he did reallocate 50,000 In January of this year, he sold Class A company shares to his other company, Alcantara LLC.

The report pointed out that although the exercise of options is commonplace for executives, the actions of Phong and Lang were made without a pre-arranged trading plan. Matt Maley, chief market strategist at Miller Tabak + Co., claimed that this decision may indicate the long-term viability of Thaler’s strategy and his close connection between the fate of the company and the fate of Bitcoin The pledge expressed concern. “If senior executives think the stock is going up, they won’t sell the stock. According to reports, Mailer said that no matter how you slice it, this is a bad sign.

As of June 30, 2021, MicroStrategy holds approximately 105,085 BTCIn late July, Saylor promised to continue to accumulate more BTC, doubling his cryptocurrency strategy. In early June, the company announced a Raised $400 million in debt to expand its Bitcoin library Holding and August, Microstrategy An additional 3,907 BTC The total number of bitcoins it holds reaches 108,992 BTC, and the company’s cost is $2.918 billion.

related: 3 reasons why MicroStrategy adopts Bitcoin-and why others will adopt Bitcoin

As of this writing, Microstrategy’s stock price has fallen nearly 9.4% that day, and has fallen by more than 77% in the past six months. However, Ed Moya, senior market analyst at Oanda Corp., believes that the sell-off of Phong and Lang is unlikely to deter Microstrategy investors who have a shared commitment to Bitcoin with Saylor, because the CEO’s “unrelenting support for Bitcoin has allowed the company to Becoming a cryptocurrency transaction is not necessarily a bet on the company’s software solutions and services.” He added: “The stock price may continue to move in the direction of Saylor and his bet on Bitcoin.”