FBI Director Kash Patel Amends Late Six-Figure MSTR Stock Disclosure

FBI Director Kash Patel has updated his financial disclosure stating he made a six-figure purchase of MSTR stock, filed more than six months after the transaction took place. The delay has drawn sharp pushback from government watchdogs, who claim it runs against federal rules.

According to a report from a nonpartisan outlet NOTUS, Patel bought about $100,001 to $250,000 worth of MSTR stock on November 21, 2024. He, however, did not inform regulators about the trade until May 26, 2025, a gap of roughly six months.

The Stop Trading on Congressional Knowledge (STOCK) Act requests senior executive branch officials to publicly disclose individual stock trades above $1,000 within 45 days after the transaction. Patel’s disclosure was delayed, and he struck a defense, telling the Office of Government Ethics that he had “inadvertently omitted” the trade.

Why Watchdogs Are Pushing Back

The purchase has been getting intense scrutiny because of what MSTR stock symbolizes. Strategy, the company behind the ticker, says it carries 847,363 Bitcoin, valued around $50 billion.

It describes itself as a “Bitcoin Treasury Company,” and it has been stacking BTC as its main reserve asset aggressively, starting back in 2020. The firm has apparently done millions of dollars in business with the Justice Department over the years, according to NOTUS.

The FBI is still actively looking at crypto scams and junk investment schemes. Kash Patel has previously praised how the agency has handled crypto cases. Owning a significant stake in the world’s largest publicly listed Bitcoin holder while overseeing those investigations is the core of the watchdog concern.

In a May 28 letter, Deputy Assistant Attorney General William Taylor stated that the purchase did not represent a conflict of interest. Government ethics advocates, on the other hand, strongly disagree with the opinion. Dylan Hedtler-Gaudette with the Project on Government Oversight told NOTUS that the delayed filing was “violating the law, no other way to put it” , and he renewed the push for a blanket ban on federal officials trading individual stocks in the first place.

For the first time in STOCK Act violations, there’s a $200 fine. The DOJ also confirmed that no penalty has been imposed on Patel. His amended disclosure has since been approved.

MSTR Has Lost Half Its Value Since Patel’s Purchase

The timing of the purchase adds another layer to the whole story. Strategy shares have shed roughly half their value since November 2024 when Kash Patel reportedly entered his position. Over on Wall Street, analysts have been slashing their price targets on the stock, not exactly subtle. MSTR Stock Price Target got cut to $130, and the brokerage basically implied that the long-term Bitcoin investment case still holds, but the recent performance is not matching what they expected.

At the same time, the broader analyst consensus has turned more cautious. TD Cowen followed along with its own revision, and its Strategy Stock Price Target Was Cut to $260, even with a bearish BTC prediction that points to a weaker long-term Bitcoin outlook. Right now, the stock trades close to its 52-week lows.

Even with the stock’s slump, Strategy keeps adding Bitcoin into its treasury. The company is still stuck on BTC accumulation, which seems not to loosen up any time soon, even while there’s more regulatory and political scrutiny on its government-linked partners.