Cryptocurrencies
MicroStrategy Executives Sold Stock After Bitcoin’s Swoon
- Financial, technical chiefs sold after exercising options
- Founder Michael Saylor hasn’t sold any of his common shares
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Perhaps some MicroStrategy Inc. insiders aren’t quite as sure about tying the company’s long-term fortunes to Bitcoin as their Chief Executive Michael Saylor.
As Bitcoin was recovering from its summer swoon, two of Saylor’s top lieutenants -- Chief Financial Officer Le Phong and Chief Technology Officer Timothy Lang unloaded stock in August after exercising about 30% of the options they were awarded. Each realized cool gains of around $7 million from the sales. Saylor, one of the digital currency’s most vocal proselytizers, hasn’t sold any shares, SEC filings show.