Revealing the rumor of Microstrategy selling Bitcoin, how true is this story?

On April 21, the crypto community had an uproar when rumors spread that Microstrategy had sold off part of its Bitcoin holdings.

It all started when a Twitter account named “Ozz” posted some related information claiming that Microstrategy went against its promise to hold Bitcoin long-term and just sold 1,500 BTC, equivalent to roughly $63 million from the company’s Bitcoin reserves.

Ozz cited that Microstrategy moved the above 1,500 BTC from their main wallet address to a secondary wallet address, which was used by exchanges Coinbase and Okex to sell Bitcoin. This account even bluntly asserts that from the beginning of 2022 until now, the total amount of Bitcoin that Microstrategy “silently” sold is up to 8,000 BTC.

However, this rumor about Microstrategy is entirely untrue, considering the following factors. First, when tracing the two mentioned Ozz wallet addresses plus the 1,500 BTC just sold, at first glance, it seems pretty similar to the total amount of 129,218 Bitcoin that Microstrategy owns, making it easy for investors to be fooled.

But both wallets were created, recording the first transaction on February 10, 2019, and June 12, 2018. While Microstrategy only started making Bitcoin purchases in September 2020. Therefore, this is unlikely to be Microstrategy’s Bitcoin wallet.

Next, MicroStrategy is a publicly listed company on the stock exchange, whereby any purchase or sale of the company must be reported to the SEC, especially when Bitcoin is an asset on its balance sheet by MicroStrategy. The proof is that the company publishes clear legal documents to show transparency through each addition of Bitcoin.

A specific case that clarifies this point is the Tesla of billionaire Elon Musk. According to its Q1 2021 financial report, Tesla sold 10% of its Bitcoin investment, raising $272 million to test the market’s liquidity. However, Tesla is still required to notify company shareholders and regulators of its actions.

Back to MicroStrategy, the company currently has not taken any action on the event that just happened. So the question arises whether CEO Michael Saylor dares to put himself and the company in a difficult position, if not to be severely affected legally when conducting “underground selling” of Bitcoin?

Both Michael Saylor and MicroStrategy have not only won big on the Bitcoin investment front, but the company’s stock has also benefited, quadrupling in the past two years, putting him back in the world’s “billionaires” club. Moreover, Michael Saylor has put a lot of effort into making MicroStrategy a real Bitcoin whale. All his hard work paid off as the value of Bitcoin skyrocketed.

What has earned MicroStrategy so much respect from the investor community in the industry is largely the statements that support Bitcoin in the long term, which now seems to be seen as a guideline in the strategy. Company development.

On April 15th, CEO Michael Saylor once again reaffirmed that MicroStrategy would vigorously pursue buying and holding more Bitcoin, regardless of market conditions, besides going up a plan to leverage the company’s huge Bitcoin fund to earn additional profits, typically lending.

And, of course, he would not be able to bet such a huge legacy for just 63 million dollars. It should be noted that Michael Saylor himself was on the verge of bankruptcy with MicroStrategy during the dot-com crash of the 2000s when he saw his fortune plummet.

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