The executives of top crypto-affiliated firms Coinbase and MicroStrategy sold the most shares in the industry and one of the largest in the US market.
Crypto prices were impressive last year. Interestingly, the industry’s bullish run spilled over to stocks of publicly traded exchanges, miners, and firms with a substantial amount of digital assets in their balance sheets.
Meanwhile, a recent report shows that executives of two notable firms were on a selling spree. Amidst the price upswing, inside stock sales in Coinbase and MicroStrategy ranked high among the top companies in the US.
Execs Go on a Selling Spree
The report cited a Securities and Exchange Commission (SEC) filing disclosing last year’s insider sales. According to the filing, about 500 insiders, executives, and investors sold $36.9 billion of company shares.
On an individual basis, Amazon’s Jeff Bezos sold the largest stock with $13.4 billion. Meta’s founder, Mark Zuckerberg, followed in the ranking with total sales of $2.5 billion.
Meanwhile, Coinbase CEO Brian Armstrong made the top eight in the list, spurred by his substantial COIN dump. The crypto industry leader sold a staggering $636 million in Coinbase’s stock.
Another notable crypto name, Michael Saylor, appeared on the list. The Bitcoin evangelist ranked 13th with $410.8 million in sales of the blossoming MSTR stock.
With weighty sales from other Coinbase executives like Fred Ehrsam and Emilie Choi, inside share activities in the leading crypto exchange in the US jumped to $1.25 billion, the seventh-largest in the United States.
Furthermore, MicroStrategy ranks 11th, with $567.8 million worth of MSTR sold in 2024. Notably, they were the only crypto company in the top 12 of the biggest companies in the US.
Stock Performances
A look at these two firms’ performances provides the sales narratives. Their stocks outpaced most companies in the S&P 500, posting sturdy growth in the course of the year.
For context, Coinbase grew 43.5% in 2024, spurred by Bitcoin’s bullish momentum. COIN started the year at $173.02 and closed at $248.30. Meanwhile, it has continued its uptrend this year, recording a 5.90% increase year-to-date.
On the other hand, MicroStrategy’s stock performed much better than COIN. MSTR appreciated 358.5% last year as its growing correlation with Bitcoin catalyzed investors’ interest. The software firm has been piling on Bitcoin and intends to do more this year with its “21/21 plan.”
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