Bitcoin (BTC) price is not experiencing the most promising market conditions of late, as sentiments remain bearish. The negative outlook is a product of bad macro and unfavorable on-chain metrics. The delicate situation is on the verge of getting worse, as fresh rumors suggest a whale which sent over 200k BTC to exchanges in the past is MicroStrategy.
Some users have disagreed with the assertion that the address belongs to MicroStrategy
Notable influencer CryptoVinco took to Twitter Monday to make the assertion. He shared a screenshot of a series of transactions carried out by the whale address.
I’m 99% certain this is Michael Saylor’s Bitcoin address, and they’re planning to sell everything,
I’m 99% certain this is Michael Saylor’s Bitcoin address, and they’re planning to sell everything.
When he soon sells, expect a bloodbath to the likes we’ve never seen ever before. pic.twitter.com/vx643TPAyg
— CryptoVinco (@CryptoVinco) September 5, 2022
Additionally, the pseudonymous influencer asked the community to expect an unprecedented “bloodbath” in the markets when MicroStrategy sells off the BTC. Mixed reactions trailed the comment section, as some users demonstrated nonchalance in the event that the assertion is true.
However, others disagreed with CryptoVinco, noting that the whale address does not appear to belong to MicroStrategy. One user in particular highlighted the fact that the address had over 241K BTC which is more than MicroStrategy’s balance as publicly declared by the firm.
Saylor has always noted that his firm plans to retain its BTC
A look into the BTC address shows that the wallet carried out a series of transactions in the space of four days. The transactions which started on July 18 left the wallet empty as of July 21. The wallet seems to have sent several uneven transactions in successive fashion to a Coinbase address.
The last transaction in the trend of discharges was worth 4006.9 BTC valued at $79M+ against prevailing rates. The address has transacted a total of 851 times, having received and sent out a whopping 241,914 BTC (worth $4.7B at the time of reporting).
Most users have noted that the chances of the address belonging to Saylor’s MicroStrategy are low. Michael Saylor is one of the most renowned Bitcoin maximalists in the crypto community. Saylor has on several occasions noted how his firm plans to retain the BTC on its balance sheets.
Saylor confirmed, on June 29, that MicroStrategy had purchased an additional 480 BTC between May 3 and June 28. This brought the firm’s aggregate BTC holdings to $129,699, making it the largest institutional holder of the asset.
Rumours of this address belonging to MicroStrategy had surfaced in the past, but they remained unconfirmed. With these recent claims, more tension could build up in an already bearish atmosphere.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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