Strategy director Jarrod Patten sold 71,400 shares worth $10.4 million

Strategy director Jarrod Patten sold 71,400 shares of company stock in 31 transactions this year, worth about $10.4 million, Bitcoin Treasuries reported. The shares came from stock options granted in 2016 and 2017, when Strategy was still known as MicroStrategy and operated primarily as a software company. The sales appear to reflect the exercise and monetization of vested or expiring options rather than a change in the company’s Bitcoin strategy. Strategy, whose stock has risen alongside its aggressive Bitcoin accumulation, holds more than 400,000 Bitcoin and is the largest corporate holder of the cryptocurrency, according to recent reports. The company’s leadership, including co-founder Michael Saylor, has continued to affirm its long-term Bitcoin commitment. A proposal at the most recent shareholder meeting to increase authorized shares could support further Bitcoin acquisitions.

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