The Impact of Insider Trading on MicroStrategy Stock Post Bitcoin ETF Approvals
Tuesday, 12 March 2024, 11:04
Overview:
The approval of Bitcoin ETFs in the U.S. triggered concerns about MicroStrategy's stock reactions. Insider trading activity within the company, particularly by executives like Michael Saylor, has drawn attention.
Insider Selling:
- Michael Saylor sold over $150 million in MSTR shares this year.
- Other senior officials, like Phong Le and Jeanine Montgomery, have also offloaded significant amounts of stock.
- Carl Rickertsen, a director, made a hefty sale of 12,000 shares.
Stock Performance:
- Despited initial worries, MSTR has gained 116.63% YTD, showing no signs of slowing down.
- The recent trading session ended with a 4.11% gain.
- MicroStrategy's consistent rise is also evident in the last 30 and 7 days, with gains of 106.86% and 19.72% respectively.
MicroStrategy's BTC Holdings:
Despite the high price of Bitcoin, MicroStrategy acquired an additional 12,000 BTC, surpassing a total of 200,000 coins.
The company's steadfast approach towards BTC despite insider selling suggests a positive outlook for MicroStrategy.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.