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The head of MSTR sold a large amount before the ETF approval
In a separate development, Michael Saylor, a staunch Bitcoin supporter, made a strategic move by selling millions of dollars worth of MSTR stock just before the approval of spot Bitcoin ETFs. The sell-off, which ranged from 3,882 to 5,000 shares, took place between Jan. 2 and Jan. 10. In addition, Saylor is expected to earn over $20 million. A spokesperson for MSTR said the share sales were part of a pre-planned strategy. He also clarified that there is no direct connection to the approval of spot Bitcoin ETFs. The ongoing plan involves selling up to 5,000 shares per day until April 26, 2024. It also aims to sell a total of 400,000 shares by that date.
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