FBI Director Kash Patel’s MicroStrategy Stake Falls 44%

FBI Director Kash Patel purchased between $100,000 and $250,000 of MicroStrategy (MSTR) stock on Nov. 21 and only added the trade to his financial disclosure in an amendment filed in late May. MicroStrategy shares have fallen about 44% since his purchase.

Government filings show Patel bought MicroStrategy at about $181 per share on Nov. 21. The transaction did not appear in a disclosure he signed in early December and was added months later in an amended filing. In the amendment, Patel described the omission as “inadvertently omitted.” Federal rules require certain officials, including the FBI director, to report securities transactions over $1,000 within 45 days.

MicroStrategy was trading near $100.55 at the time of reporting, about 44% below Patel’s reported purchase price. Based on the disclosed purchase range, the position would be roughly $44,000 to $110,000 lower than the original outlay if he still holds the shares.

The company holds a large Bitcoin treasury and its stock has been volatile as Bitcoin’s price has moved. MicroStrategy’s filings show more than 847,000 BTC on its balance sheet, a position valued at over $52 billion at current prices.

MicroStrategy shares rose above $442 last summer and have since fallen more than 77% from that peak. Analysts have lowered targets for MSTR as Bitcoin’s price weakened; one firm reduced its price target from $400 to $260 and revised its year-end Bitcoin forecast from about $140,000 to $100,000.

The late amendment and the size of the purchase drew attention because disclosure rules are intended to provide timely visibility into trading by senior officials.