FBI Director Kash Patel failed to timely disclose a six-figure purchase of shares of Strategy (MSTR), the world’s largest publicly traded Bitcoin holder, according to a report from nonpartisan media outlet NOTUS.
Patel allegedly purchased between $100,001 and $250,000 worth of MSTR on November 21, but did not report the transaction to regulators until May 26.
The reason for the delay? poor communication. Patel informed the Office of Government Ethics that he “inadvertently omitted” the transaction due to an unspecified “communication issue.”
Under the Stop Trading on Congressional Knowledge (STOCK) Act, senior executive branch officials must publicly disclose individual stock transactions exceeding $1,000 within 45 days of the transaction.
The trade has faced increased scrutiny from government watchdogs due to Strategy’s BTC accumulation activities and previous relationships with federal agencies.
The company, which NOTUS says has done millions of dollars in business over the years with the Department of Justice, bills itself as a “Bitcoin Treasury Company” and is aggressively accumulating BTC as its primary reserve asset. Since 2020, the company has built a coin reserve of 847,363 BTC, worth over $50 billion at the time of this writing.
