FBI Director Kash Patel’s Undisclosed Stock Buy in Bitcoin Giant Strategy Is Down 44%

FBI Director Kash Patel has seen his stake in Strategy collapse since he made a significant, previously undisclosed investment in the Bitcoin treasury company last November.

Patel bought between $100,000 and $250,000 worth of stock in the Michael Saylor-founded company on Nov. 21, according to new government documents. MSTR was trading around $181 at the time. The stock has since fallen more than 44% to $100.55 at the time of writing.

The FBI director did not initially disclose his investment in Strategy. He altered filed a mandatory disclosure form in late May that included the purchase of the Strategy, which he claimed was “inadvertently omitted,” according to documents obtained by NOTUS.

The stock purchase should have been disclosed in a financial disclosure signed by Patel in early December. Federal law requires certain government employees, including the FBI director, to report securities transactions over $1,000 within 45 days.

In the intervening months, assuming he didn’t sell the position, Patel’s investment in Strategy has lost him somewhere between $44,000 and $110,000.

The company, Wall Street’s most prominent crypto treasury firm, has more than 847,000 BTC in storage, worth more than $52 billion at current prices. Strategy’s crypto storage model, while wildly successful as Bitcoin’s price rises, has lost value amid the months-long crypto market downturn.

Over the past year, the price of Bitcoin has fallen by over 41%, from $106,000 to $61,933 at the time of writing. During the same period, Strategy’s price has also plummeted, but even more sharply.

Shares of the Bitcoin Treasury company soared above $442 last summer, reflecting the rising price of Bitcoin and the hype surrounding the token. Since then it has collapsed by more than 77%.

Earlier this week, analysts said cut price targets for Strategy lowered from $400 to $260, mainly due to Bitcoin’s “perceived continued weakness.”