Rumors Of MicroStrategy Selling Bitcoin Grow With Tesla’s Disclosure

Name	Symbol	Market	Market Cap ($)	Algorithm
Polkadot	DOTUSD	Crypto	9,771,042,028	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Polkadot

DOTUSD

Crypto

9,771,042,028

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.080	1.10%	7.36	7.36	7.36

Price Change

Price Change %

Current Price

Bid Price

Offer

0.080

1.10%

7.36

High Price	Low Price	Open Price	Prev. Close	52 Week Range
7.38	7.00	7.29	7.28	3.56 - 12.01

High Price

Low Price

Open Price

Prev. Close

52 Week Range

7.38

7.00

7.29

7.28

3.56 - 12.01

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	21:42:06	1.00	7.36	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

21:42:06

1.00

7.36

USD

Price x Volume	Volume	Base Symbol	Related Pairs
9,526,584.30	1,325,010.55	DOT	DOTEUR	DOTGBP	DOTBTC

Price x Volume

Volume

Base Symbol

Related Pairs

9,526,584.30

1,325,010.55

Rumors Of MicroStrategy Selling Bitcoin Grow With Tesla’s Disclosure

21/07/2022 4:13pm

NEWSBTC

Bitcoin and the crypto market have been losing momentum in the last 24 hours after experiencing a relief rally. Yesterday, the Elon Musk-led car manufacturer Tesla announced that it sold 75% of its BTC holdings to convert them into fiat currency. Related Reading | Cardano (ADA), After 35% Spike, Locks On Next Target: $0.55 This has thrown fuel on speculations about other big BTC holders unloading their assets into the market. MicroStrategy and its CEO Michael Saylor have been the target of a majority of these speculations. Over the past week, Bitcoin’s third wealthiest address identified as 1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ, has transferred 29,200 BTC to exchange platforms. Crypto users believe this is MicroStrategy’s BTC address. Therefore, they speculate the software company sent their BTC to crypto exchange Coinbase. Over the past week, this address transferred 132,800 BTC to this platform which is roughly the amount held by the Saylor-led company. Did Tesla Trigger A Bitcoin Selling Domino Effect? Research firm Jarvis Labs questioned the rumors claiming the address most likely belongs to a “top trader”. The wallet has been accumulating Bitcoin since January 2019. MicroStrategy and Saylor disclosed that their first BTC purchase took place in 2020. The software company is a publicly-traded company in the U.S. and must be transparent about its treasury strategy or risk facing legal consequences. Jarvis Labs highlighted the complexity of labeling BTC addresses and dismissed the rumors with the following statement: Wallet labels are incredibly complex and a sensitive topic. As they lack confirmations from the concerned party most of the time. So take such noise with a grain of salt. Relax, he has not been selling yet, even if assumed it was Saylor’s MSTR wallet. Saylor Replies To Rumours On Their Bitcoin Holdings CEO at CryptoQuant Ki Young Ju claimed the rumors about the wallet unloading their Bitcoin into the market are “FUD”. The executive said the transactions associated to address 1P5Z are part of an internal transfer. In that sense, Young Ju said the BTC might have been sent to a cold or custodian wallet potentially owned by crypto exchange Gemini. Young Ju said: For the record, “1FzW…” has closer ties to hot wallets like “1NYA…” and “bc1quq…” and these are not Coinbase or OKx. These are Gemini hot wallets.Lots of on-chain data providers mislabeled them. See this tweet for more details. Related Reading | Polkadot (DOT) Gathers Steam, Sets Sight On $8.07 Resistance Level Replying to all these rumors and speculation, Saylor tweeted with two emojis representing “diamond hands”. In the past, the executive said their plans are to hold Bitcoin “forever” dismissing any idea of dumping their BTC. 💎🙌 — Michael Saylor⚡️ (@saylor) July 21, 2022

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

DOTUSD Polkadot