Bitcoin News Today: MSTR Exec Sells $10M in Shares as Bitcoin Strategy Posts $5.9B Loss
MicroStrategy Inc. (NASDAQ:MSTR) Executive Vice President and General Counsel Wei-Ming Shao sold 30,000 shares of the company's Class A common stock in two separate transactions in April and September 2025, totaling over $9.85 million [1]. The first sale occurred on April 14 and 15, 2025, when Shao sold 20,000 shares at prices ranging from $314.16 to $315.00 [1]. A subsequent transaction on September 18, 2025, saw the sale of 10,000 shares at a weighted average price of $355.79, generating $3.56 million [2]. Following these sales, Shao directly owns 12,726 shares of Class A common stock [3].
The transactions occurred against a backdrop of MicroStrategy's aggressive BitcoinBTC-- accumulation strategy, which includes purchasing 3,459 additional bitcoinsBTC-- in 2025, bringing its total holdings to 531,644 BTC [1]. However, the company reported a $5.91 billion unrealized loss on its Bitcoin holdings for the first quarter of 2025 due to new fair-value accounting rules [1]. Despite these losses, analysts including Benchmark and TD Cowen maintained "Buy" ratings for MSTRMSTR--, citing optimism about the company's Bitcoin-centric strategy [1].
Shao's insider activity includes both sales and purchases. In September 2025, he bought 12,500 shares at $96.92 per share, while earlier in July, he sold 32,500 shares at an average price of $401.47 [3]. Over the past year, Shao has sold 213,594 shares of MSTR stock for approximately $81 million, according to net worth estimates [5]. Institutional investors have also shown mixed activity, with SJS Investment Consulting Inc. and Mutual Advisors LLC increasing their holdings in Q2 2025 [3].
The insider sales have sparked investor scrutiny, as no MSTR insiders reported purchases in 2025, while 26 insider sales year-to-date totaled $864 million . Board member Carl Rickertsen, another high-profile seller, liquidated his entire $10 million stake in June 2025, exercising stock options and selling shares on the same day . Critics like economist Peter Schiff have labeled MicroStrategy's Bitcoin-focused model a "complete fraud," arguing that gold-not Bitcoin-will outperform in the long term .
MicroStrategy's stock has shown significant volatility, with a 147% return over the past year but a 10% decline in the last month [1]. Analysts at BTIG, Mizuho, and Canaccord Genuity have raised price targets to $700–$586, reflecting continued confidence in the company's strategic direction [3]. The firm's next earnings report is scheduled for May 6, 2025 [1].
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