MicroStrategy insiders sold $864M in 2025 with no purchases, signaling possible internal uncertainty.
MSTR stock fell 10% in a month as Metaplanet surged 152%, widening performance gaps.
MicroStrategy holds 582,000 BTC amid growing criticism of its Bitcoin-centric strategy.
A surge of insider stock sales has triggered scrutiny of MicroStrategy's stock performance during 2025. Board member Carl Rickertsen has liquidated his full company shareholding which was valued at $10 million according to reports. The stock sale happened during a period with no insider buying which questions internal trust in the company's future plans.
Strategy continues its Bitcoin accumulation approach while maintaining a commitment to this plan despite the crypto market's growing volatility.
Insider Sell-Off Raises Investor Concern
Data from Protos confirms that insider selling at MicroStrategy has reached 26 transactions year-to-date. Notably, there have been no reported purchases by company insiders in 2025. The value of these insider sales has exceeded $864 million, suggesting a broader trend of profit-taking or diminished confidence.
Carl Rickertsen, who joined MicroStrategy in 2022, initially bought $700,000 worth of shares. Over time, he gradually sold portions of his holdings before fully exiting this year. The stock price has surged since his entry, making the timing of his exit more significant.
This wave of insider exits comes while the broader market evaluates the risks and benefits of MicroStrategy’s Bitcoin-centric business model. The company currently holds over 582,000 BTC, with continued purchases despite price swings. However, these internal moves may suggest that top executives are uncertain about the long-term trajectory of their Bitcoin-heavy strategy.
MicroStrategy Shares Lag as Peers Outperform
While MicroStrategy continues to invest heavily in Bitcoin, its stock performance has lagged in recent weeks. Over the past month, MSTR has dropped by 10%. In contrast, Metaplanet, another firm involved in Bitcoin holdings, has recorded a 152% increase during the same period. This divergence underscores growing concerns among investors about the effectiveness of MicroStrategy’s current strategy.
The absence of insider confidence could further impact retail sentiment. Investors often monitor insider trades as indicators of a company’s internal outlook. When senior leaders sell without any offsetting purchases, it can create doubts about future performance. The simultaneous execution of stock options and immediate share sales further suggests that the motivation may be short-term gains rather than long-term confidence.
Critics Challenge Strategy’s Bitcoin Approach
Public criticism of MicroStrategy’s approach has intensified. Economist and Bitcoin critic Peter Schiff called the business model a fraud. Schiff’s remarks followed the company’s disclosure of its massive Bitcoin reserves, currently valued at $63 billion. He stated that the firm's investment in Bitcoin might produce future financial instability. Schiff pointed out Bitcoin’s lagging performance against gold and suggested that the cryptocurrency market could have reached its maximum potential.
Despite these critiques, Strategy continues to pursue aggressive crypto investments. Yet, the insider sales trend could add new pressure to the stock. Investors are watching closely to see if the company can maintain market trust amid rising internal exits and external skepticism.
