Is Michael Saylor selling Bitcoin? Not so fast

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YEREVAN (CoinChapter.com) – Michael Saylor, the chief executive of business intelligence firm MicroStrategy, stirred the crypto crowd again. However, the CEO’s Bitcoin buying habit was not in the limelight. A Twitter user with the handle Coinsandtoken posted a thread, allegedly revealing that Saylor sold “more than 1500 bitcoins” without “telling anyone.”

Although the amount sold yesterday is insignificant compared to MicroStrategy’s holdings, selling $63M worth of bitcoin is a thing and since they announce their purchases, they should announce their selling activities too.

further detailed the thread.

The Twitter user also alleged that MicroStrategy sent BTC “from their main address […] to a secondary address that has been using Coinbase and Okex to sell bitcoins.” However, they presented no valid transactions to back their claim.

Also read: MicroStrategy buys Bitcoin worth $190 million to push total BTC holdings above $4B — MSTR consolidates.

Furthermore, Cryptoandtoken was not alone in his suspicions. As Saylor has been accused of fraud in the past, the crypto community was not so teary-eyed when it came to CEO’s Bitcoin devotion.

Why the shock?

Michael Saylor selling Bitcoin would raise many eyebrows, as his love for Bitcoin borders on romance. Saylor previously described the digital asset as a “swarm of cyber hornets serving the goddess of wisdom.”

In detail, the executive is an avid crypto supporter who’s been gobbling four-digit BTC batches since 2020. As a result, MicroStrategy amassed 129,218 BTC, acquired for approximately $4 billion at an average price of $30,700 per Bitcoin.

Also read: Is Marathon Digital, a Bitcoin mining stock, a better buy than MicroStrategy? Let’s see.

The company enjoyed both praise and criticism for adopting Bitcoin as its primary treasury reserve asset. Considering polar responses to Saylor’s BTC hogging, his alleged selling decision could trigger others to do the same. However, the CEO commented on the fuss and denied the rumors.

Are Michael Saylor’s Bitcoin Reserves Intact?

Saylor tweeted that he made no material change to his corporate strategy and that MicroStrategy discloses that kind of information to its shareholders. Peter Schiff, the CEO of Euro Pacific Capital and an outspoken crypto skeptic, asked Saylor to cite a governmental ruling that would compel him to disclose any sales but got no answer.

Also read: MicroStrategy comes back for more Bitcoin—MSTR drops 5.40%

Moreover, Schiff then tweeted on the matter again, calling Saylor’s alleged pump and dump practice “unethical.”

Meanwhile, Saylor continued the streek of his romantic tweets dedicated to Bitcoin, calling it “digital energy.” However, creating noise does not prove a point, and the question of whether he sold any BTC or not remains open.

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