- Insiders at Strategy have sold over $13.6 million in stock over the past few months
- The selling comes as the company continues its aggressive Bitcoin accumulation strategy
- This has created a disconnect between executive actions and the firm’s public thesis
Insider selling at MicroStrategy (now rebranded as Strategy) is stirring unease in the crypto market, particularly among Bitcoin enthusiasts who have long considered the company a proxy bet on BTC.
Despite the firm’s aggressive Bitcoin acquisition strategy and its dominant position as the world’s largest corporate holder of the cryptocurrency, insiders selling MSTR shares could turn the crypto market participants paranoid.
What Do the Insider Sales Show?
Over the past few months, Strategy insiders have unloaded a notable amount of stock — without a single insider purchase to counterbalance it. CEO Phong Le, in particular, has sold over $3 million worth of shares, including a disposal of 8,400 shares on June 18.
He still retains a portion of his holdings – over 16,000 Class A shares and an additional 10,500 preferred shares – but the scale of the sell-off has sparked speculation.
Related: Trump White House Has a New Strategy for Bitcoin and It Involves a Lot of Gold
The activity isn’t isolated. Director Rickertsen sold off nearly 70% of his holdings for $9.8 million, while another executive, Patten, offloaded 9,550 shares for $3.5 million. In total, insiders have sold $13.6 million worth of MSTR stock over a short period.
The absence of any insider buying amid this wave of selling is contributing to market skepticism, especially given MicroStrategy’s public image as a Bitcoin-maximalist firm. If Bitcoin is the ultimate asset, as Chairman Michael Saylor has consistently claimed, holding Strategy shares doesn’t make sense.
Is the Company Still Buying Bitcoin?
Despite the sell-offs, MicroStrategy’s Bitcoin accumulation remains unshaken. The company has now purchased Bitcoin for 11 consecutive weeks, with its latest buy on June 23 bringing in an additional 245 BTC for $26 million.
The firm’s total holdings now stand at 592,345 BTC, valued at over $63.6 billion, more than double the combined holdings of the next 20 largest corporate Bitcoin holders.Even during previous bear markets, Strategy has held firm to its Bitcoin thesis.
Related: Bhutan Amasses World’s Third Largest Bitcoin Reserve
Analysts argue this long-term discipline could give the company an edge if the market corrects, as many newer Bitcoin treasury firms, often funded through high-leverage debt or equity raises – might not survive a significant BTC crash.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Source: https://coinedition.com/strategy-mstr-insider-selling-bitcoin-buys-company/