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Insiders Keep Buying Crypto Treasuries

Every weekend, I dig into our insider activity tracker looking for the biggest conviction buys — and this week, we’ve got everything from healthcare to energy to tech showing up.

Here’s the most notable activity:

First up, Ryan Specialty Holdings $RYAN. The Executive Chairman dropped a massive $14.3 million into shares. 

That’s one of the largest single purchases we’ve seen this month and a strong signal of confidence from the very top.

Then there is NextDecade $NEXT. 

The CEO put $2 million into the oil and gas company. Always notable when the one running the show steps up with a buy of that size.

In crypto, MicroStrategy $MSTR caught attention when its General Counsel purchased $1.2 million worth of stock.

An insider buy in the market’s de facto Bitcoin proxy is always worth flagging — especially as the stock continues to lag behind Bitcoin itself.

Over in small caps, Forward Industries $FORD had Multicoin Capital disclose a 15.70% stake. 

That’s a crypto-native hedge fund taking an active, double-digit position, tied to its Solana-focused treasury strategy. 

When specialists in the space step in like this, it carries weight.

Meanwhile, Constellium $CSTM saw Millennium Management increase its stake from 3.50% to 5.30%. That’s meaningful accumulation in the aluminum space.

And finally, New Mountain Finance Corp $NMFC. Steven Klinsky bought just over $1 million worth of shares in the asset manager, further cementing insider support.

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Happy Sunday. 

Steve