A director of bitcoin giant Strategy has sold all the company’s shares

Strategy Director Carl Rickertsen got rid of the company’s last shares in June, ending a multi-year holding period. According to SEC filings, he sold his entire MSTR stake for just over $10 million, with no purchases through 2024.

Rickertsen has previously invested its own money in Strategy securities, including a $608,000 share purchase in June 2022. At the time, the price was $152 apiece, and the quote has more than doubled since then. Nevertheless, half of the position it reset back in 2023.

In recent years, Rickertsen has practiced a strategy of immediate exercise of options followed by immediate sale. For example, on June 2, he received and sold 26,390 shares granted as part of his compensation for serving on the board of directors the same day.

The latest share ownership report filed on June 5 shows Rickertsen’s complete withdrawal from the company. He has served on Strategy’s board of directors since 2019, and his stake had shrunk to zero at the time of the latest transaction.

Analysts note a disturbing trend: in 2024, 26 insider sales of MSTR stock were recorded, but not a single purchase. Over the past five years, sales exceeded purchases by $864 mln, which may indicate that the asset is overvalued.

Peter Lynch’s telling phrase – “insiders only buy when they believe in growth” – underscores the sentiment inside the company. Sell