Strategy has seen a noticeable wave of insider selling, according to recent filings with the U.S. SEC. In June, CEO Phong Le sold 8,400 shares of Class A stock, roughly 34% of his directly held shares.
He still owns 16,390 shares, along with 6,000 and 4,500 shares of two preferred stock series, “Strife” and “Stride.” Over the past month, insider sales at Strategy have totaled $13.6 million, with no insider buying reported.
The selling isn’t limited to one executive. It includes VP & CAO Jeanine Montgomery, EVP & General Counsel Wei-Ming Shao, CFO Andrew Kang, and board members Carl Rickertsen and Jarrod Patten.
Rickertsen sold 26,390 shares, over 75% of his holdings, for more than $9.8 million. Patten sold 9,550 shares, equal to about 60% of his stake, for over $3.5 million.
While the sales may appear alarming, many long-time holders argue these are routine transactions. The sold volumes are small in the context of Strategy’s market cap and have not caused major price drops.
In fact, MSTR stock has continued to rise by 32.55% over the past year, outperforming the overall market. In the meantime, the company is close to 600,000 BTC, which makes it the largest corporate BTC owner in the world.
The insider selling notwithstanding, Strategy is still on a good crypto wave, with bullish investors and a courageous vision of Bitcoin.
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