Bitcoin Price Prediction: Saylor Sells Stocks, CleanSpark’s New Desk
In the dynamic world of cryptocurrencies, Bitcoin currently trades at $45,224, marking a slight decrease of less than 0.50% on Wednesday. In a significant move, Michael Saylor has initiated the sale of $216 million in MicroStrategy stocks, opting to invest further in Bitcoin.
Meanwhile, CleanSpark, a prominent Bitcoin mining company, is advancing its operations by establishing an in-house trading desk.
Adding to the market’s anticipation, the U.S. Securities and Exchange Commission (SEC) continues its careful examination of the paperwork for a spot Bitcoin Exchange-Traded Fund (ETF), a decision eagerly awaited by crypto enthusiasts and investors.
Let’s look further into this.
According to a filing with the US Securities and Exchange Commission, MicroStrategy’s Executive Chairman, Michael Saylor, has begun selling $216 million in MicroStrategy shares over a four-month period, starting with the first tranche of 5,000 shares on January 2.
Saylor previously announced plans to sell up to 5,000 MSTR shares daily over four months to meet personal obligations and increase his Bitcoin holdings.
MicroStrategy’s executive chairman @saylor has started selling roughly $216 million of the firm’s shares. Saylor previously said the sales would give him fresh capital to purchase even more Bitcoin, among other things. https://t.co/ljxjnsMFPn
— Cointelegraph (@Cointelegraph) January 3, 2024
Following MicroStrategy’s substantial Bitcoin acquisitions, including purchasing an additional 14,620 Bitcoin for $615 million on December 27, the company’s total holdings reached approximately 189,150 Bitcoin, valued at nearly $8.5 billion.
Despite his personal sales, Saylor continues to emphasize the importance of maintaining a significant stake in the
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