The CEO of Microstrategy Denies Claims That The Company Is Selling Its Bitcoin Holdings.

Microstrategy’s chairman and CEO, Michael Saylor, has shot down allegations that the firm is selling its Bitcoin holdings in secret.

Microstrategy, as a publicly traded firm, is required by law to register any transactions with the Securities Exchange Commission, according to Saylor’s Twitter account.

After an address known as “1P5ZED” was involved in moving a considerable amount of Bitcoin, rumors regarding Microstrategy selling its Bitcoin holdings arose. Microstrategy or a cryptocurrency exchange, according to analysts and crypto aficionados, was most likely the whale.

Saylor noted in his tweet that any Bitcoin sale would be announced to shareholders. It’s worth noting that Saylor has stated that the company’s Bitcoin holdings will never be sold.

“Not sure who needs to know this, but when $MSTR makes any material change to its corporate strategy (to acquire & hold Bitcoin) or to its Bitcoin holdings, we disclose this to our shareholders via SEC filings, available to all,”

Saylor has emerged as a major crypto proponent who is driving institutional Bitcoin investment. Despite the asset’s volatility, Saylor remains optimistic about the asset’s future potential.

Saylor highlighted that the company intends to continue investing in Bitcoin in the expectation of widespread adoption. Following the SEC’s recommendation that the company change its disclosure in future filings due to extreme volatility, the company has done so.

The company, which is widely seen as paving the way for institutional investors to invest in Bitcoin, is looking for ways to generate money in order to accumulate the asset.

Microstrategy has increased its Bitcoin holdings to about 130,000 BTC after investing an additional $200 million on the asset. The coins were bought with the help of a Bitcoin-backed loan.

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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