Strategy Director Keeps Dumping MSTR While Stock Hits New Low Around $85 📉

Strategy director Jarrod Patten has expanded his months-long selling spree of the company's stock as MSTR fell to a fresh low near $85, according to a recent SEC filing. The Bitcoin treasury firm formerly known as MicroStrategy has seen its share price slide sharply, prompting renewed scrutiny from market commentators including Bitcoin critic Peter Schiff.

Patten exercised options for 1,500 Strategy Class A shares on June 23 at a strike price of $18.236 per share, a transaction valued at approximately $27,354. He sold all 1,500 shares the same day at $106.08 each, generating roughly $159,120 and a pre-tax, pre-fee profit of about $131,766.

The disclosure is the latest in a series of insider sales. Per SEC records, Patten has sold 55,750 MSTR shares over the past three months, deals that have brought in around $9 million in profit and drawn investor criticism over potential share dilution. An earlier reported transaction had Patten exercising options at the same $18.236 strike and selling MSTR shares near $134, a trade CoinGape covered on June 19 with profits exceeding $200,000.

MSTR has continued its heavy decline alongside the sales, with the stock plunging to a new low around $85. Critics have pointed to the impact of insider selling and Bitcoin's price action as contributors to the slide. Peter Schiff has publicly sounded the alarm over the implications for Bitcoin, arguing that the weakness in MSTR reflects broader stress on the company's Bitcoin-heavy balance sheet.

Strategy, which holds one of the largest corporate treasuries of $BTC, has not publicly commented on the insider transactions in the latest filing. The company continues to identify as a Bitcoin treasury company, and its stock performance remains closely tied to movements in the price of Bitcoin.