Bitcoin

Michael Saylor Accused Of Sending Over 200,000 BTC To Exchanges In July

According to a tweet by CryptoVinco on September 5, a Bitcoin whale believed to belong to Michael Saylor sent over 200,000 BTC to Coinbase between July 18 and July 21.

CryptoVinco said he is 99% sure the wallet belongs to MicroStrategy operator and is a well-known Bitcoin maximalist. However, there is still no proof that the wallet belongs to Michael Saylor or MicroStrategy. Usually, transferring Bitcoins to exchanges represents a decision to sell the asset.

Many in the crypto community are amazed at CryptoVinco’s confidence. According to community members, the wallet in question holds more BTC than MicroStrategy, which currently has around 129,699 BTC, according to CoinGecko data.

Blockchain explorer data, on the other hand, shows that the whale wallet transacted 851 times, received 241,914 BTC, and spent it all. The wallet has a balance of less than $200 as of the time of writing.

Also, Michael Saylor has always asserted that his company will continue to hoard his Bitcoin regardless of its price performance.

A Bitcoin whale address created in 2013, inactive since May 2021, recently transferred 5,000 BTC to the Kraken exchange, according to OKLink data. This transfer raised concerns about increased selling pressure.

Meanwhile, CryptoQuant data shows that long-term holders are moving their BTC to derivatives exchanges.

At the time of writing, BTC is trading at $18,666.

BTC daily chart. Source: CoinCu

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.