Michael Saylor, the co-founder and chairman of MicroStrategy, has firmly rejected rumors suggesting that the company has sold a significant amount of its Bitcoin holdings. These allegations emerged after shares of MicroStrategy (MSTR) plummeted to their lowest point in a year, prompting speculation about the company”s Bitcoin activities.
The controversy was sparked by a post from Walter Bloomberg on his X account, which referenced data from Arkham revealing that MicroStrategy”s Bitcoin holdings reportedly decreased from 484,000 BTC to around 437,000 BTC. This reduction of approximately 47,000 BTC raised questions about whether it was due to a sale or simply a transfer, marking the first decline since July 2023.
In response, Saylor swiftly addressed the rumors, stating, “This rumor is not true.” While Arkham claims that MicroStrategy holds 437,431 BTC, they also noted that a transfer of 107,319 BTC was made to Fidelity Custody. Contrarily, MicroStrategy”s own dashboard indicates a total of 641,692 BTC, highlighting a substantial discrepancy that calls into question the accuracy of data tracking methods used by different platforms.
During a live segment on CNBC, Saylor not only dismissed the rumors but also disclosed that MicroStrategy has actually ramped up its Bitcoin acquisitions. “We”re buying, and we”re buying a lot,” he declared, revealing plans to issue a new buying report on Monday morning. When probed about their purchasing strategy, Saylor mentioned that the company has been acquiring Bitcoin across all recent price ranges, including at levels around $95,000. He noted that MicroStrategy now controls “almost 3.1%” of the Bitcoin network, with an average purchase cost of $74,000 per BTC.
As the situation unfolds, it remains crucial for investors and stakeholders to monitor MicroStrategy”s Bitcoin activities closely, especially in light of the recent market fluctuations and the company”s significant holdings in the cryptocurrency space.
