Michael Saylor, the well-known Bitcoin advocate, has managed to secure a profit of $370 million from the sale of MicroStrategy shares this year, as the price of Bitcoin reached an all-time high.

MicroStrategy's founder, Michael Saylor, has made a profit of $370 million from the sale of the company's shares, as reported by CNBC on April 19. Saylor sold shares worth $3,023,309 on Wednesday, with the sales prices for these shares ranging between $1,189.12 and $1,258.05.

Saylor had agreed with the company last year to sell up to 400,000 shares in the first four months of 2024, and with 90% of the plan already executed, he has made significant profits from the stock sales. The rise in the price of Bitcoin and MicroStrategy shares has contributed to his profits.

MicroStrategy currently holds 214,246 BTC, which represents 1% of all Bitcoin in circulation, following its latest purchase of 9,245 BTC for $623 million. Saylor is the largest shareholder of MicroStrategy, with Class B holdings worth approximately $2.3 billion. Additionally, MicroStrategy's Class A holdings have decreased to 30,000 shares following the latest sale disclosed on Thursday.

Despite the recent 37% pullback in MSTR price from its March high, with a 15% drop this week due to the significant decline in Bitcoin price, MicroStrategy shares are still up by 81% year-to-date and 346% in 2023, making it one of the top performers in a bear market.

MicroStrategy's price is currently trading up by nearly 3% in the early hours, with the price currently at $1,242, as Bitcoin price has also rebounded after hitting a low of $59,600 in the past 24 hours. Bitcoin price is currently up by 5% at $65,000, with a 24-hour low and high of $59,600 and $65,481, respectively.

Michael Saylor Remains Positive on MicroStrategy and Bitcoin, Predicting a Rally Beyond $100,000 and $350,000, Respectively

Michael Saylor, the founder and executive chairman of MicroStrategy, remains optimistic about the future of both MicroStrategy and Bitcoin. He anticipates that Bitcoin's price will surge beyond $100,000 and reach $350,000 during the 2024 bull run.