- Strategy’s share price is down 3% on Thursday.
- The company reached a new stock price peak for 2025 earlier this week.
- Strategy holds more than $58 billion worth of Bitcoin.
Jarrod M. Patten, a director at Strategy, formerly MicroStrategy, has sold $5.2 million worth of the company’s Class A shares in less than a month ― and he isn’t done yet.
Details from a Securities and Exchange Commission filing show he plans to offload another $300,000 worth of the stock this week.
Strategy’s share price is down 3% on Thursday and traded for $403.
Patten’s previous sales occurred across multiple tranches between April 22 and May 14. During that time, Strategy’s stock price had climbed more than 20% amid a broader recovery for the company’s share price after a significant decline in the first quarter.
The surge coincided with the broader crypto market’s recovery and catapulted Strategy’s stock price to a new year-to-date high of $421.61 this week. That’s still shy of its November all-time peak of $473.83.
The shares are up 45% this year, easily outpacing the modest gains of the S&P 500 Index while also tracking Bitcoin’s recent uptick.
And that’s no coincidence.
Strategy, originally a software company, is now a corporate Bitcoin whale with more than $58 billion of the asset in its treasury ― the most for any publicly traded company.
Championed by its laser-eyed founder, Michael Saylor, Strategy’s corporate Bitcoin adoption has turned the company into a de facto Bitcoin-trading tool.
And the gambit has been a major stock booster for the company, skyrocketing its price by 2,800% since it began to hoard Bitcoin in 2020. Over 130 companies have also copied Saylor’s playbook and stocked up on Bitcoin — not to mention ventures that have tapped into other cryptocurrencies in a similar fashion.
But that also means Strategy’s fortunes dip if the Bitcoin market wobbles. Bitcoin fell 12% in the first quarter. The slump was part of a broader market decline caused by uncertainty over US President Donald Trump’s tariff hikes targeted at major economies, including Europe and China.
The US has since agreed a trade deal with the UK and paused its tariff tiff with China for three months. These actions have lessened the pressure on the market and allowed asset prices to rebound.
Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? Please contact him at osato@dlnews.com.
