Michael Saylor Is Microstrategy Quietly Dumping Bitcoin? Here is new data
Just as Bitcoin is holding on to the $23,000 level after a long time, data on massive selling activity is showing contrasting signs. It is well established that Michael Saylor’s Microstrategy is the largest institutional investor in Bitcoin. Meanwhile, data from Crypto Quant suggests that the company may be secretly selling some of its Bitcoin holdings. It is also possible that the business intelligence service provider may disclose the sales activity sometime in the near future.
Michael Saylor Bitcoin Wallet For Sale?
According to yourdefiguide on Crypto Quant, the main micro strategy wallet is believed to have already sold 132,382 Bitcoin. The aforementioned wallet 1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ is rumored to belong to Michael Saylor’s company. It is believed that “all of MicroStrategy’s Bitcoin is stored in 2 single sig addresses.” As of this week, BTC was sent from the Microstrategy wallet to various exchange wallets including Coinbase. Between July 18 and July 21, Bitcoin holdings were sold for $21,687.84 each.
Was Bitcoin transferred to exchanges for sale?
However, it is still not clear whether the Bitcoin transfer was made with an intention to sell or not. Saylor, for his part, has not made any announcement about the company’s sale of Bitcoin so far. The Microstrategy CEO has been one of the most vocal personalities favoring Bitcoin in recent years. In fact, he tweeted on Tuesday, “Stay with #Bitcoin.” He also tweeted saying that the world needs money that won’t crash, indicating that Bitcoin is crash-proof.
“It’s unclear for what purpose this BTC is being sent to Coinbase. Is it for sale? Is it for custody? He (Saylor) hasn’t announced anything yet. But if he does sell it will cause a big shift in sentiment among many BTC maxis.” »
Meanwhile, Bitcoin rose nearly 12% in the past week. At the time of writing, Bitcoin (BTC) is trading at $23,485, down 0.67% in the last 24 hours, according to CoinMarketCap. In early July, Bitcoin was trading at $18,885.
After the cryptocurrency market recently crashed due to the credit crunch, Microstrategy attracted large unrealized losses. The loss was said to be over $1 billion. The company has a total of 129,918 Bitcoins, bought at an average price of $30,700.
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