Is Microstrategy Selling Off Its Bitcoin Stash in the Shadows?
Over the last two years, the tale of MicroStrategy CEO Michael Saylor’s aggressive Bitcoin purchases has continued to make headlines. One claim, though, is that Mr Saylor is secretly disposing of thousands of Bitcoins.
MicroStrategy, a business intelligence software firm that has 129,218 Bitcoin on hand, is well-known in the Bitcoin world. This is expected to be worth $6 billion. MicroStrategy is the biggest publicly listed BTC holding business.
Saylor has claimed that the company does not intend to sell Bitcoin in the near future and will hold it for the long term.
Michael Saylor’s Microstrategy has been accused of selling thousands of bitcoins, according to a strange Twitter account and at least one Medium article Indeed, according to one allegation, at least 8000 bitcoins have been traded thus far via numerous wallets and exchanges.
Is Microstrategy Being Sold Undercover?
According to the tweet, the Microstrategy primary address has been identified and BTC has been transferred to exchanges through a secondary address, according to the user.
More than 1500 Bitcoin was sent to secondary addresses in recent transactions from the primary custodial wallet. Bitcoin was reportedly sent from their primary address to an address that sold BTC on regulated exchanges like Coinbase and Okex. The following are the addresses that were connected together:
Given MicroStrategy’s large BTC purchase, the amount sold today pales in relation to the company’s overall holdings. As one Twitter user noted, “selling $63 million worth of Bitcoin is a thing, and since they publicise their purchases, they should announce their selling actions as well.”
Saylor, according to Mr Whale’s investigation, has a history of unethical business practices. He claimed that, although he encourages everyone to engage in the Bitcoin market, he has been dumping his shares during this period. Mr Whale highlighted the dot-com boom, which lasted five years beginning in 1995 while detailing his earlier unethical tactics.
Writes Mr. Whale: Years of careless bookkeeping, fraud, and generally poor leadership were to blame for his investment losses. With their zeal to be at the heart of both the dot-com bubble and the current Bitcoin bubble, it is evident that the value of their firms is purely predicated on their capacity to generate excitement.
He highlighted that the Microstrategy CEO shifted from bashing Bitcoin to forecasting that it would approach $1 million, which he regarded as dubious. Mr. Whale indicated that he plans to form a new firm and pay directors with Bitcoin as part of his escape scheme. According to the Bitcoin critic, Saylor is trying to salvage face by taking this route rather than selling his Bitcoin under the aegis of the SEC. He also argued that the former would prevent him from becoming a villain in every trader’s narrative.