On Thursday, April 21st, a Twitter account with the username ‘Coinsandtoken’ accused MicroStrategy of secretly selling some of its Bitcoin holdings. The accusation stirred a series of reactions on Twitter, given that MicroStrategy has never announced its sales of Bitcoin.
MicroStrategy is a business-intelligence software company that holds a massive volume of Bitcoin. At the moment, the company’s Bitcoin holdings surpass that of GrayScale and even Tesla.
The CEO of MicroStrategy, Michael Saylor, has always announced the company’s Bitcoin purchases via Twitter. Michael is a Bitcoin maximalist and firmly believes that Bitcoin will reach the $1 million mark one day.
Decrypting the Truth
Following the accusations, Michael Saylor said on Twitter: “Not sure who needs to know this, but when $MSTR makes any material change to its corporate strategy or its Bitcoin holdings, we disclose this to our shareholders via @SECGov filings, available to all.”
Many who further examined the stats refuted the claims made by “Coinsandtoken” on Twitter. The Twitter user uploaded an image showing the flow of Bitcoin from the main wallet address to a secondary wallet address and finally to wallets associated with two centralized exchanges, Okex and Coinbase.
Main custodial address: 1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ
Secondary custodial address: 1FzWLkAahHooV3kzTgyx6qsswXJ6sCXkSR
However, some Twitter users who scanned the wallet addresses identified affirmed that the wallet addresses do not belong to MicroStrategy. Blockchain records revealed that the main wallet has been utilizing Bitcoin since 2019, when in fact, MicroStrategy only started investing in Bitcoin in 2020.
The wallet identified as the main wallet address was also tied with a centralized exchange and not MicroStrategy as speculated.
With the information at our fingertips, there is no solid reason to believe that the world’s leading Bitcoin Investment Company has sold some of its BTC holdings.