The CEO of Nasdaq-listed Microstrategy has dispelled rumors that his company was quietly selling bitcoin. He explained that as a company regulated by the Securities and Exchange Commission (SEC), changes in bitcoin holdings must be disclosed to shareholders via filings with the SEC.
Microstrategy CEO Stresses Any Bitcoin Sale Must Be Publicly Disclosed to SEC and Shareholders
This week, a rumor circulated on social media that Nasdaq-listed pro-bitcoin software company Microstrategy was quietly selling its BTC.
Microstrategy CEO Michael Saylor tweeted Friday to dispel the rumor. He explained that as a company regulated by the United States Securities and Exchange Commission (SEC), Microstrategy is required to disclose any material changes in corporate strategy to shareholders via filings with the SEC.
In addition, the executive emphasized that documents filed with the SEC are public documents “available to everyone.” He further noted that significant changes include acquiring and holding bitcoins as well as changing crypto holdings.
Bitcoin.com News published an article this week explaining why the rumor is false and the BTC address in question does not belong to Microstrategy. The address is actually probably held by a crypto exchange.
While some people appreciate Saylor’s clarification, some are still skeptical, choosing to believe that the rumor that Microstrategy is selling bitcoin is true.
Saylor has been a strong supporter of BTC. He repeatedly said he would not be selling his pieces anytime soon, noting that he would keep them for a hundred years.
In February, the Microstrategy boss said: “I see evidence of much more institutional adoption, greater adoption among macro funds and other hedge funds.” In December last year, he predicted that the price of bitcoin could reach $6 million.
Earlier this month, his company spent another $200 million acquiring bitcoin, bringing its total holdings to 129,218 BTC. Microstrategy secured a bitcoin-backed loan to purchase the additional coins.
What do you think of the rumor that Microstrategy is selling bitcoin? Let us know in the comments section below.