In his recent Tweet, MicroStrategy CEO Michael Saylor emphasised that MicroStrategy, as a publicly listed firm, is compliant with the law to file any transactions with the Securities Exchange Commission (SEC).
MicroStrategy Doesn’t Sell Any Bitcoin
Rumours about the firm selling its Bitcoin stash spread after the involvement of an address identified as “1P5ZED” in migrating a huge amount of the digital asset. It was largely believed that the whale behind this occurrence would be MicroStrategy or a crypto exchange.
Saylor stated that shareholders would be informed of any Bitcoin sales and confirmed that Bitcoin holding of the company will never be listed for sale.
Not sure who needs to know this, but when $MSTR makes any material change to its corporate strategy (to acquire & #hodl bitcoin) or to its #bitcoin holdings, we disclose this to our shareholders via @SECGov filings, available to all.
— Michael Saylor⚡️ (@saylor) April 22, 2022
Saylor was a passionate supporter of cryptocurrency who takes the lead in institutional investment in the world’s largest cryptocurrency. Though the asset has gone through several phases of volatility, he remained positive about its prospects.
MicroStrategy’s Bitcoin Accumulation Plan
The CEO further highlighted the company’s plans to keep investing in Bitcoin with a strong belief that mainstream adoption is on the horizon. This follows the SEC’s recommendations that MicroStrategy should amend its disclosure in the future filings amid great volatility.
In an effort to pave the way for institutional investors to participate in Bitcoin, the company is seeking revenue sources to stockpile the asset.
Lately, Bitcoin holding of MicroStrategy reached a staggering level of 130,000 BTC after an additional $200 million was spent on the asset purchase.
The CEO’s sanguine about the prospects of Bitcoin is attributed to the executive’s confidence that the cryptocurrency can resolve several existing inefficiencies of the traditional financial sector.
According to Saylor, the asset can outdo traditional products like gold and Nasdaq and serves as a hedge against inflation.
