MicroStrategy CEO: Not Selling BTC, Rumors Untrue

MicroStrategy CEO: Not Selling BTC, Rumors Untrue
  • Microstrategy CEO Michael Saylor disposed of the rumors that his company was quietly selling bitcoin via Twitter.
  • The executive said that the company will disclose any changes the company will make to its shareholders.
  • The company recently purchased $200 million worth of BTC earlier this month.

Recently, a rumor spread on social media that Nasdaq-listed software company Microstrategy has been silently selling its Bitcoin holdings.

Michael Saylor, Microstrategy CEO, shared a tweet last Friday to get rid of the rumor. Saylor clarified that the company is regulated by the US Securities and Exchange Commission (SEC). Microstrategy is obligated to reveal any material changes in corporate strategy to shareholders through SEC filings. 

Moreover, the CEO pointed out that SEC filings should be “available to all.” Acquisition and holding of Bitcoin along with making changes to their holdings were included in the material changes.

According to a news article from Bitcoin.com, a person who had “access to blockchain analytics tools (Chainalysis and Ciphertrace) as part of their job function,” said:

“There is an almost 100% chance that both addresses in your article, both 1P5ZED and 1FzWLk, belong to Gemini.”

Some people were relieved about the executive’s clarification. However, there are still others who are suspicious and still believe that Microstrategy is selling Bitcoin. For instance, a tweet from @JacobOracle stated that the CEO’s tweet is “deceptive.”

Saylor has been a devoted supporter of BTC. He keeps on saying that he will not sell his holdings in the near future, pointing out that he will hold them for a “hundred years.”

The company recently spent  $200 million earlier this month to acquire Bitcoin. This move has raised their total BTC holdings to 129,218 BTC. The purchase of its additional coins has been obtained by Microstrategy through a bitcoin-backed loan.

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Bryan is a gamer who became genuinely interested in crypto after his initial exposure to Play-to-Earn games like Axie Infinity and Pegaxy. He has basic knowledge of technical analysis and is keeping an eye out for interesting developments in the metaverse and GameFi space.