Jarrod M. Patten, a director at Strategy—formerly known as MicroStrategy—has sold $5.2 million worth of the company’s Class A shares in under a month, with more sales on the horizon.
According to a recent SEC filing, Patten intends to offload an additional $300,000 in shares this week.
Despite a 3% drop on Thursday, Strategy shares are still trading at $403, riding the momentum of a recent rally. Patten's previous stock sales occurred in multiple tranches between April 22 and May 14, during which the stock surged over 20%, recovering from a significant first-quarter decline.
The upswing coincided with a broader rebound in the crypto market, pushing Strategy’s stock to a new year-to-date high of $421.61—though still below its all-time high of $473.83 set in November.
So far in 2025, shares are up 45%, far outpacing the S&P 500 and closely mirroring Bitcoin’s latest gains. That’s no coincidence.
Originally a software company, Strategy has transformed into a major corporate holder of Bitcoin, with over $58 billion worth of the cryptocurrency in its treasury—more than any other publicly traded company.
Under the leadership of Bitcoin evangelist Michael Saylor, the company has become a proxy for crypto exposure on Wall Street. Since adopting its Bitcoin-centric strategy in 2020, the stock has soared more than 2,800%. Over 130 other companies have since followed suit, adding Bitcoin to their balance sheets or expanding into crypto assets.
However, Strategy’s performance is tightly linked to the volatile crypto market. When Bitcoin fell 12% in the first quarter, the company’s shares followed suit. That slump was part of a wider market downturn triggered by concerns over U.S. President Donald Trump’s tariff increases on key trading partners like Europe and China.
Recent developments—including a trade agreement with the UK and a three-month pause in the U.S.-China tariff dispute—have eased investor fears and contributed to the market’s broader recovery, lifting crypto and equities alike.
