The president and CEO of MicroStrategy confirmed via Twitter that his company is not selling any Bitcoin (BTC) holdings as the world’s largest cryptocurrency fell below $40,000 on Monday. There were rumors that the company was selling off its BTC holdings, and Michael Saylor denied them.
MicroStrategy does not sell a single BTC
Saylor caught on Twitter to deny rumors that MicroStrategy is selling Bitcoin. In his Twitter post, Saylor said that before making any material changes to its corporate strategy, whether it’s acquiring BTC or any other asset, the company must disclose it to shareholders via filings with the Securities and Exchange Commission (SEC).
On the other hand, the chief economist and global strategist of Europac.com, Peter David Schiff, had a some questions for Saylor.
“Are you saying that $MSTR hasn’t sold any of its Bitcoins? Is there an SEC rule that would require disclosure if it did? If so, can you cite it? Also, have you sold any of the Bitcoins you personally own?”
However, Saylor did not answer. But Jason Meyers, the founder of AuditChain, asked Saylor and MicroStrategy to publicly reveal the Bitcoin addresses the company owns. “Address disclosure will build trust, establish new best practices, and further drive thought leadership on the innovation of the global disclosure framework,” Meyer added.
Additionally, as a recent Kripteu Magazine report recounts, MicroStrategy shareholders have decided to “pursue vigorously” the company plans to accumulate Bitcoin. Saylor further added that the company’s strategy to acquire and hold Bitcoin “has been a huge success.”
Saylor also added that the company has “the right team in place to position us [the company] delivering exceptional value to our customers and strong financial results to our shareholders. MacroStrategy, the subsidiary of MicroStrategy, has also borrowed $205 million, which was provided by Silvergate Bank, a subsidiary of Silvergate Capital Corporation.