Kash Patel's Strategy Stock Down 44% After Late Disclosure
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Kash Patel purchased between $100,000 and $250,000 in Strategy stock on November 21 when MSTR traded around $181, then failed to report the trade within the 45-day window federal law requires for officials' securities transactions above $1,000.
- Patel amended his financial disclosure in late May, claiming the buy was "inadvertently omitted," according to filings obtained by NOTUS.
- Strategy shares have fallen from about $181 at Patel's purchase to $100.55 at writing — a 44% decline — and are down over 77% from last summer's peak above $442.
- Strategy's leveraged Bitcoin treasury model holds over 847,000 BTC worth more than $52 billion, magnifying both Bitcoin's 41% annual decline and the company's own sharper drop.
- Analysts slashed Strategy's price target from $400 to $260 this week, citing Bitcoin's "observed ongoing weakness," while the token itself slid from above $106,000 to $61,933.
- If Patel still holds the position, his investment is now worth roughly $55,000 to $139,000 — a paper loss of $44,000 to $110,000 depending on his actual entry size.
Why it matters: Patel's months-late disclosure violates a 45-day reporting requirement that exists specifically to prevent undisclosed conflicts of interest for senior federal officials, and his 44% loss underscores how Strategy's Bitcoin-treasury structure amplifies downside — MSTR has shed 77% from its peak versus Bitcoin's 41% annual drop, exposing equity holders to far steeper risk than holding BTC directly.
