According to Bloomberg, MicroStrategy CEO, Saylor, has accumulated an estimated $400 million from pre-scheduled daily sales of approximately 5,000 shares of the enterprise software company from January to the previous week. These sales followed the exercising of options granted in 2014 that were due to expire. The company's stock has doubled this year to around $1,280, surpassing the record-setting gains of the original cryptocurrency during the same period. In 2014, MicroStrategy was trading at around $160.
The superior performance of MicroStrategy's stock, based in Tysons Corner, Virginia, seems to be alleviating investor worries that Saylor, the controlling shareholder, might be selling at the peak. However, the premium that MicroStrategy is receiving over Bitcoin after the introduction of US exchange-traded funds that can hold the cryptocurrency in January is beginning to draw attention.
Investors are anticipated to focus on MicroStrategy's first-quarter results, which will be announced after the close of regular stock trading on Monday. Revenue is projected to be steady at around $122 million, according to analysts surveyed by Bloomberg. A net loss of 61 cents per share is predicted. MicroStrategy had a net income of $461 million in the same quarter last year, boosted by a specific factor.
The value of MicroStrategy's Bitcoin holdings has risen to approximately $14 billion since the company began buying the digital asset as part of its inflation hedging strategy. Investors are likely more interested in learning when MicroStrategy will adopt a different approach. Despite this, MicroStrategy continued to purchase more Bitcoin. In March, the company sold additional shares to fund its Bitcoin buying spree.