August 14, 2025
5 min read
Ben Solis
Rep. Shri Thanedar (D-Detroit) has found himself in the spotlight again due to a potential violation of the Stop Trading on Congressional Knowledge (STOCK) Act. This time, the issue involves the delayed public reporting of up to $50,000 in stock shares purchased from MicroStrategy Incorporated, a company notably known for its significant cryptocurrency holdings, particularly Bitcoin.
The revelation came from a periodic transaction report filed with the U.S. House of Representatives. The report indicated that Thanedar purchased MicroStrategy common stock, valued between $15,000 and $50,000, on July 1, 2024. However, the disclosure was made more than a year after the transaction date, potentially falling short of the STOCK Act's requirement to disclose stock purchases exceeding $1,000 within 45 days.
MicroStrategy's substantial Bitcoin treasury, currently holding 423,650 bitcoins valued at approximately $42.43 billion as of 2024, makes it the largest corporate holder of the cryptocurrency. This association with Bitcoin is why the company is often viewed as a proxy for cryptocurrency investments.
While the STOCK Act does not prohibit members of Congress from trading stocks, it mandates timely disclosure to ensure transparency and prevent potential conflicts of interest. Violations of this act typically incur fines starting at $200 per infraction.
In response to the situation, Thanedar explained that the stock purchase was made by his wife, and he only recently became aware of it. He stated, “As soon as I became aware, I reported it. [People are] trying to make it like this was intentional, but it was not.” He further emphasized his consistent reporting of crypto holdings for years, suggesting no motive to deliberately omit this particular transaction, which was under $50,000. Thanedar noted that he has previously reported other transactions "within minutes [of those purchases]."
Currently, Thanedar has not been contacted by the U.S. House Ethics Committee regarding penalties but has expressed his readiness to pay any fines if required. He described the delayed report as an isolated incident, not indicative of a pattern, mentioning his extensive portfolio of "maybe 500 or 1,000" individual stocks.
Thanedar, whose net worth is estimated at $40.97 million, ranks 30th out of 457 members of Congress in financial tracking data. The initial report on this potential STOCK Act violation was published by NOTUS. This marks at least the second time since 2023 that Thanedar has faced scrutiny for potential STOCK Act violations.
Regarding his investment strategy, Thanedar indicated plans to instruct his financial advisors to cease investing in individual stocks and to liquidate existing holdings. However, he also expressed reservations about this approach, citing financial prudence and advice from his advisors. He commented, “I’m just like any other investor, and I have been investing in stocks for 30 or 40 years now, way before I became a public servant.” He is currently deliberating with his advisors on whether divesting individual stocks is the best course of action to avoid future perception issues.
The delayed disclosure also brings into focus Thanedar's personal cryptocurrency holdings and potential conflicts of interest, especially given his service on a congressional cryptocurrency subcommittee focused on digital currency expansion. He recently voted in favor of three pro-cryptocurrency bills that aim to establish regulatory frameworks for digital markets and stablecoins, including protections for consumer and financial privacy. Thanedar maintains that his investments, including those in cryptocurrency since 2017 (prior to his congressional service), are unrelated to his legislative duties. He stated, “I believe in a digital future. Digital currency is the future. I believed that in 2017 and I believe it today. … I have invested in this before I was a member of Congress and even if I invested now as a member of Congress, I really don’t see an issue.”
Originally published at Michigan Advance on August 14, 2025.