Michael Saylor Dispels Rumors that MicroStrategy Is Selling Bitcoin, Promising Further Acquisitions

MicroStrategy has dispelled the rumors that his company has been quietly selling bitcoin.

The founder and CEO of the Bitcoin-accumulating, business-intelligence software company MicroStrategy, has dispelled rumors that his company has been quietly selling bitcoin.

MicroStrategy Isn’t Selling Bitcoin Stash

Last week, there were rumors that MicroStrategy, which holds a total of 129,218 bitcoins, had begun secretly selling its bitcoin stash, worth over $5 billion at Bitcoin’s current price of $38.5k as of this writing.

Michael Saylor, the CEO of MicroStrategy, explained that his company is regulated by the Securities and Exchange Commission (SEC), and changes in bitcoin holdings must be disclosed to shareholders via SEC filings.

Sponsored

He explained that the changes include acquiring and holding bitcoin, and selling its crypto holdings. He also pointed out that the public records of MicroStrategy are “available to all.”

MicroStrategy Won’t Stop Purchasing Bitcoin

In addition to clarifying that Microstrategy is in fact not selling its bitcoin, the popular CEO confirmed that the company will continue buying Bitcoin. 

Saylor maintains that Bitcoin is a critical hedge against inflation, and the asset has outperformed traditional products like gold and Nasdaq.

On the Flipside

  • In confirming that his firm will continue buying Bitcoin, Michael Saylor claimed that investing in MicroStrategy is the closest an investor can get to a Bitcoin spot ETF.

Why You Should Care

Michael Saylor has been an avid proponent of Bitcoin, and his bullish stance has encouraged many institutional investors to get involved in with the leading digital asset.

Sponsored

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia