Microstrategy is not secretly selling bitcoins.
A few days ago, rumors started circulating on social media that Microstrategy has started secretly selling some of its Bitcoin holdings. After an address known as “1P5ZED” was involved in moving a considerable amount of bitcoin, rumors regarding Microstrategy selling its bitcoin holdings arose.
According to analysts and crypto aficionados, Microstrategy or any cryptocurrency exchange was most likely the whale causing the selling panic. Twitter soon filled with rumors that Microstrategy is selling BTC. Hence, many twitter crypto experts alleged that the amount of BTC involved in the transaction was so large that only a crypto whale (whether a crypto exchange or a company like Microstrategy) could be involved in such a transaction.
However, the CEO of the asset management firm, Michael Saylor, has stated that those rumors are completely false. He further explained that any publicly listed company like theirs couldn’t sell any assets under its management without filing such intended transactions with the US SEC.
Saylor also said the company’s shareholders must duly approve any BTC sale (no matter the amount). The BTC advocate further said that his firm isn’t ready to start selling any of its BTC holdings and would only keep adding more to what they currently own.
Not sure who needs to know this, but when $MSTR makes any material change to its corporate strategy (to acquire & #hodl bitcoin) or to its #bitcoin holdings, we disclose this to our shareholders via @SECGov filings, available to all.
— Michael Saylor⚡️ (@saylor) April 22, 2022
Part of Saylor’s tweet reads, “… When MSTR makes any material change to its corporate strategy or BTC holdings, we will disclose to our shareholders via sec filings, available to all.”
Microstrategy acquires more BTC worth nearly $191m
As the head of the bitcoin mining corporation across North America, Michael Saylor is a highly respected figure in the crypto space. Microstrategy’s long-term is to keep accumulating more BTC, whether the crypto market is in a bullish or bearish season.
Saylor says:
“You have Nothing to fear owning more bitcoin.”
You have nothing to fear from owning more #bitcoin.
— Michael Saylor⚡️ (@saylor) April 25, 2022
Earlier this month, the company announced that it had increased its BTC holdings by 4,168 BTC (valued at nearly $191m). The BTC acquisition came a few days after Saylor tweeted that the company won’t mind borrowing to buy more BTC. Microstrategy’s latest filing shows that their BTC holdings are now 128,219 BTC bought, with each BTC bought at an average price of $30,750.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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