Following rumors fueled by Arkham Intelligence data, Michael Saylor, CEO of MicroStrategy, has denied reports that the company sold any of its Bitcoin holdings. Speculation arose after over 40,000 BTC were purportedly moved across various wallets.
MicroStrategy CEO Reaffirms Treasury Stance Amidst Market Downturn
On Friday, MicroStrategy CEO Michael Saylor refuted claims that the company had sold approximately 43,415 BTC, valued at $4.26 billion, across more than 100 different addresses during a significant downturn in the crypto market.
The rumors originated from Arkham Intelligence data, which indicated substantial transfers and a perceived reduction in MicroStrategy’s tracked holdings. This sparked investor panic as Bitcoin’s price dipped below $95,000. Arkham Intelligence subsequently clarified that these on-chain movements likely represented a custodian and wallet rotation rather than outright sales.
“Over the past two weeks, the Arkham platform has shown MicroStrategy making a series of transfers from Coinbase Custody (their existing custodian) to a new custodian. It is likely that today’s transfers are a continuation of this rotation,” Arkham stated. The firm emphasized that such transfers could involve direct moves to a new custodian, internal system adjustments, or refreshes at Coinbase, stressing that “on-chain movements do not mean that MicroStrategy has sold their BTC.”
During bearish market periods, large asset movements often trigger fear, uncertainty, and doubt (FUD), even if they do not signify selling activity. Given that MicroStrategy’s Bitcoin holdings are a benchmark for the broader corporate Bitcoin treasury model, these movements tend to heighten concerns among market observers and investors.
MicroStrategy’s official dashboard, according to BitcoinTreasuries, confirmed its holdings remained stable at approximately 641,692 BTC. The company has maintained its long-term strategy of utilizing BTC as a primary treasury reserve asset since 2020, consistently increasing its stash during market dips.
Saylor also addressed the widespread speculation on X (formerly Twitter), asserting that claims of a sale were unfounded. In an interview with CNBC, he further indicated that MicroStrategy is accelerating its Bitcoin purchases, with more acquisitions expected to be announced on Monday. “We are buying quite a lot,” he stated, describing recent price levels as a robust foundation.
The MicroStrategy CEO expressed optimism regarding Bitcoin’s future trajectory, viewing current price levels as a strong base from which the cryptocurrency is poised to rally significantly. He projected that Bitcoin would surpass traditional assets like gold and the S&P 500 by the close of 2025.
MicroStrategy’s Class A stock (MSTR) experienced a 4.2% decline on Friday, as Bitcoin briefly dipped below $95,000 before recovering to $96,500 at the time of publication.
