Michael Saylor Rejects Rumors of Microstrategy Silently Selling Bitcoin

Michael J. Saylor, MicroStrategy (MSTR) CEO and Bitcoin (BTC) Expert made a statement on Twitter that MSTR is still holding BTC. His announcement refuted social media rumours that Microstrategy had been quietly selling Bitcoin.

“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 SEC filings, available to all.”

He explained that MSTR is a company regulated by the U.S. Securities and Exchange Commission (SEC), so his company is required to disclose any material changes in corporate strategy to shareholders through SEC filings.

In addition, Saylor emphasized that the SEC filings are “available to all” public records, the important changes include buying and holding Bitcoin as well as making changes to the Cryptocurrency holdings will be clearly disclosed.

While some people appreciate Saylor’s actions, some remain skeptical, choosing to believe that the rumour of Microstrategy selling Bitcoin is true. Peter Schiff, CEO and chief global strategist of Euro Pacific Capital Inc. replied to Saylor’s tweet:

At the beginning of April this year, Microstrategy spent another $200 million buying Bitcoin, bringing its total current holdings to 129,218 BTC.

In October 2020, Michael Saylor also revealed that he personally currently holds 17,732 Bitcoins with an average price of $9,882 and as of now, he has never sold a single Bitcoin. He is an avid bitcoin supporter and claims to keep it for 100 years. He predicts that the Bitcoin price could reach $6 million.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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