Four cryptocurrency executives ranked among America’s top 25 stock sellers in 2024, with Coinbase CEO Brian Armstrong leading the group at $636 million in sales.
SEC filings analyzed by Blockwork reveal that crypto industry leaders joined tech giants like Jeff Bezos and Mark Zuckerberg in taking profits during a year that saw $36.9 billion in total insider stock sales.
The crypto executives’ sales came during a period of price appreciation for both crypto-related stocks and digital assets.
MicroStrategy’s Michael Saylor sold $410.8 million in stock, placing 13th among all executives, while Coinbase co-founder Fred Ehrsam and COO Emilie Choi sold $203.8 million and $186.4 million, respectively.
These sales pushed Coinbase to seventh place among all companies for insider selling, with total sales of $1.25 billion during 2024.
Crypto Leaders Among Top Sellers
Brian Armstrong’s $636 million in Coinbase stock sales placed him eighth among all executives, behind Amazon’s Jeff Bezos ($13.4 billion) and Meta’s Mark Zuckerberg ($2.5 billion), but ahead of tech industry veterans like Apple’s Tim Cook.
– Advertisement –
Armstrong’s sales came as Coinbase stock recovered from 2023 lows, with the company benefiting from renewed interest in cryptocurrency trading.
Michael Saylor’s $410.8 million in MicroStrategy stock sales took 13th place overall. The timing of Saylor’s sales aligned with MicroStrategy’s stock price increases, which tracked Bitcoin’s rise throughout 2024.
The company’s shares gained value as its Bitcoin holdings appreciated and institutional interest in cryptocurrency grew.
Coinbase executives rounded out the crypto presence in the top 25. Fred Ehrsam’s $203.8 million in sales through personal trusts and his fund Paradigm earned 22nd place.
COO Emilie Choi’s $186.4 million in sales put her ahead of JPMorgan’s Jamie Dimon and surpassed the combined sales of Apple and Alphabet’s CEOs, highlighting the scale of crypto executive compensation during the market upturn.
Company-level Analysis
Coinbase ranked seventh among all companies for insider sales at $1.25 billion, placing it between Salesforce at $1.27 billion and Oracle at $842 million.
This put Coinbase in a unique position – the only pure cryptocurrency company among traditional tech and retail giants.
Amazon led all companies with $13.5 billion in sales, followed by Walmart at $4.84 billion and Palantir at $4.14 billion.
MicroStrategy’s total insider sales reached $567.8 million, earning eleventh place on the list. The company’s position reflects both executive sales and broader investor interest in its Bitcoin-focused treasury strategy.
For comparison, Netflix, a long-established tech company, recorded $528.3 million in insider sales, placing twelfth behind MicroStrategy. The sales patterns tell a larger story about the cryptocurrency industry’s growth.
When ranked by total insider sales, crypto companies now compete with established tech firms like Meta ($2.72 billion) and Nvidia ($2 billion).
This shift marks a change from previous years when crypto companies rarely appeared on major insider selling lists.
Crypto Executives Exceed Traditional Finance Leaders
The scale of crypto executive stock sales in 2024 points to the industry’s evolution. Total insider sales of $36.9 billion across all industries included about 500 executives, investors, and major shareholders.
Within this broader market, crypto executives sold stock at levels matching or exceeding traditional finance leaders – Coinbase’s Emilie Choi’s sales surpassed those of JPMorgan’s Jamie Dimon.
Looking ahead, analysts watch MicroStrategy’s potential to overtake Coinbase in total insider sales.
As per reports, Michael Saylor’s Bitcoin strategy could lead to larger stock sales if Bitcoin prices continue rising.
The company’s dual exposure to both its business operations and Bitcoin holdings creates unique conditions for future stock sales.
