MicroStrategy Executives Sell Their Bitcoins

Bitcoin-friendly software company MicroStrategy options are sold by company executives

MicroStrategy is in our memories as a company that has Bitcoin on its balance sheet and provides reports on the subject. In fact, the company recently submitted its monthly report to the SEC on the subject. The company's most recent BTC purchase was two weeks ago. The company's CEO, Michael Saylor, announced on August 23 that MicroStrategy had purchased an additional 3,907 BTC with proceeds from ATM facility sales, and the purchase was made for $177 million in cash at a price of approximately $45,294 per bitcoin.
The latest filing by MicroStrategy company with the SEC revealed that some of the top executives in the company had vacated their shares. While this situation alarmed the crypto community, it also had a bearish impact on the crypto market. Analysts are worried that Microstrategy executives are dumping their stocks.
According to a Bloomberg report, both its CFO Le Phong and its CTO, Timothy Lang, had sold approximately $7 million worth of stock each last month. Alongside the CFO and CTO, other executives in the company have reportedly liquidated their shares.