He explained that Microstrategy is regulated by the Securities and Exchange Commission, and any changes to bitcoin holdings must be reported to shareholders through SEC filings.
Microstrategy CEO explains that any Bitcoin sales must be made public to the SEC and shareholders
A rumor circulated on social media this week that Microstrategy, a Nasdaq-listed probitcoin software company, has been quietly selling its BTC.
Microstrategy CEO Michael Saylor dispelled the rumor via Twitter Friday. Microstrategy, a regulated business under the U.S Securities and Exchange Commission (SEC), is required to inform shareholders of any material changes in its corporate strategy via SEC filings.
The executive also stressed that SEC filings were public records that are available to all. He added that material changes can include the acquisition and holding of bitcoin, as well as changes to crypto holdings.
Bitcoin.com News published this week an article explaining why the rumor was false and why the BTC address is not owned or controlled by Microstrategy. It is likely that the address is owned by a crypto-exchange platform.
Although Saylor’s explanation was appreciated by some, others remain skeptical and believe the Microstrategy rumor about selling bitcoin.
Saylor is a strong advocate of BTC. He stated repeatedly that he won’t sell his coins soon and that he will keep them for 100 years.
In February, Microstrategy boss stated that he saw evidence of greater institutional adoption and greater adoption among macro and other hedge fund managers. In December, he had predicted that bitcoin’s price would reach $6,000,000.
His company spent $200 million more earlier this month on acquiring Bitcoin, bringing its total holdings up to 129.218 BTC. To purchase additional bitcoins, Microstrategy received a bitcoin-backed loan.
