Data Surprised! Is This Giant Bitcoin Whale Selling?

Bitcoin: The leader of the crypto money market came to the $ 24 thousand limit with a good run after diving to the bottoms of $ 18 thousand. It is possible that this increase has prompted some investors who want to sell. Is Michael Saylor’s Microstrategy quietly dumping Bitcoin (BTC)? Is there any proof of this?

Michael Saylor emptying his Bitcoin wallet?

Bitcoin maintains the level of 23,000 dollars after a long time. Meanwhile, data on big sales activity show opposite signs. As it is known, Michael Saylor’s Microstrategy is one of the biggest institutional investors in Bitcoin. Meanwhile, data from Crypto Quant suggests that the company is perhaps secretly selling some of its Bitcoin holdings. It is also possible for the business intelligence service provider to reveal sales activity in the near future.

According to data on Crypto Quant, the main Microstrategy wallet is believed to have already sold 132,382 Bitcoins. The wallet in question (1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ) is said to belong to Michael Saylor’s company. All of MicroStrategy’s Bitcoins are believed to be stored in 2 single signature addresses. Starting this week, BTC has been sent from Microstrategy wallet to various exchange wallets, including Coinbase. Between July 18 and July 21, BTC assets were sold at $21,687.84 each.

bitcoin

Have BTCs been transferred to exchanges for sale?

However, it is not yet clear whether the Bitcoin transfer was made with the intention of selling. Michael Saylor has not made any statement about the company’s BTC sale so far. The CEO of Microstrategy has been one of the people who prefer Bitcoin the last few years. In fact, he tweeted “Keep going with Bitcoin” on Tuesday. He also shared a tweet stating that Bitcoin is crash-proof, saying the world needs money that won’t crash.

However, it is unclear for what purpose this BTC was sent to Coinbase. For sale or for custody? Michael Saylor has yet to reveal anything. But if it sells, it will cause a huge emotional shift in many BTC maxes. The cryptocurrency market has witnessed a serious crash recently due to the credit crunch. In this collapse, Microstrategy suffered heavy unrealized losses. According to calculations, his loss is over $ 1 billion. The company has a total of 129,918 Bitcoins purchased at an average cost of $30,700.

Meanwhile, at press time, Bitcoin has gained nearly 8% over the past week. According to CoinMarketCap, BTC is trading at $22,664, down 1.94% in the last 24 hours. AmkNews.comAs you follow, at the beginning of July, Bitcoin was trading in the $ 18,885 range.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.