Summary
- FBI Director Kash Patel failed to disclose for more than six months a purchase of between $100,001 and $250,000 in shares of BTC-holder Strategy (MSTR),
- Patel attributed the late filing to an unspecified “miscommunication,” but government watchdogs say the delay violates the STOCK Act and have renewed calls to bar federal officials from trading individual stocks
FBI Director’s Six-Figure Investment Raises Eyebrows
FBI Director Kash Patel has come under scrutiny for failing to disclose a six-figure investment in Strategy (MSTR), the world’s largest publicly-listed bitcoin holder. Patel purchased between $100,001 and $250,000 worth of MSTR on November 21, but did not report the trade to regulators until May 26, citing mistaken miscommunication as the reason for the delay.
The delayed disclosure has raised concerns among government watchdogs, particularly given Strategy’s bitcoin accumulation business and its history of working with federal agencies. As a high-ranking executive branch official, Patel is required to publicly disclose individual stock trades over $1,000 within 45 days under the Stop Trading on Congressional Knowledge (STOCK) Act.
Strategy’s Bitcoin Stash
Strategy, which calls itself a Bitcoin Treasury Company, has built a significant coin stash of 847,363 bitcoin, worth over $50 billion. The company’s aggressive accumulation of bitcoin has drawn attention, and its business dealings with federal agencies, including the Justice Department, have raised questions about potential conflicts of interest.
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