Strategy's Michael Saylor Denies Bitcoin Sale Rumors: 'We're Buying'

Michael Saylor Denies Bitcoin Selling Reports: ‘We Are Buying Quite a Lot’

The Facts

Michael Saylor dispelled rumors of a possible sale of Strategy’s bitcoin, reinforcing the company’s commitment to continued BTC accumulation.

Arkham Intelligence, a blockchain analytics platform, reported a movement of 47,000 BTC in the company’s BTC holdings on Monday morning, which stirred up analysts as bitcoin dropped to $95 levels, spurring sale speculations.

Nonetheless, Saylor himself denied these allegations, clarifying that Strategy was not selling, leading to the conclusion that these movements could be transactions between internal Strategy wallets.

“There is no truth to this rumor,” Saylor declared.

Also, at CNBC’s Squawk Box, Saylor reiterated Strategy’s stance of continuing to stack BTC as part of its business strategy, and stressed that bitcoin had overperformed most assets during the last years.

He assessed:

I think the volatility comes with the territory. If you’re going to be a Bitcoin investor, you need a 4-year time horizon, and you need to be prepared to handle the volatility in this market.

Finally, when asked if Strategy was buying, Saylor responded positively, announcing that the company was buying “quite a lot,” explaining that next Monday, people would be “pleasantly surprised.”

Read more: Saylor’s Bold Forecast: Bitcoin to $150K by Year’s End, $20 Million Over Time

This is because Strategy “bought bitcoin every day this week,” as Saylor stated later on social media.

Why It Is Relevant

Strategy’s position and Saylor’s stance are viewed by the market as an indicator of the health of bitcoin, and by extension, of the whole cryptocurrency market. Saylor’s continued bullishness generates trust among BTC holders and company stakeholders.

Strategy dumping even symbolic numbers of bitcoin, or being liquidated, could be interpreted as a failure and could spark a selloff due to the psychological effect of that development on the wider crypto ecosystem.

Looking Forward

Saylor himself has stated that Strategy is almost leverage-free, clarifying that even if bitcoin falls 80%, the company would be over-collateralized. With this solid foundation, Strategy is expected to keep acquiring BTC at a discount during this pullback.

FAQ

• What did Michael Saylor state about the rumors of Bitcoin sales by Strategy?
  Michael Saylor dispelled rumors of a possible bitcoin sale, affirming the company’s commitment to continue accumulating bitcoin.

• What recent movement in bitcoin holdings sparked speculation among analysts?
  Arkham Intelligence reported a transfer of 47,000 BTC within Strategy’s holdings, coinciding with a price drop to $95K, leading to sale speculations.

• What is Saylor’s view on bitcoin investment and volatility?
  He emphasized that investors should have a four-year time horizon and be prepared for market volatility, as bitcoin has outperformed most other assets over time.

• What recent acquisitions did Saylor announce regarding Strategy’s bitcoin holdings?
  Saylor revealed that Strategy purchased bitcoin “every day this week” and hinted that upcoming news would likely please investors.