Saylor Shoots Down Sale Rumors: ‘Strategy Bought BTC Every Day This Week’

The cryptocurrency markets tumbled hard on Friday once again, with BTC leading the losses with a nosedive to under $94,000, which became a six-month low.

Amid the overall uncertainty and market panic, reports emerged at one point claiming that the ultimate bitcoin bull – Michael Saylor – and his company had begun to sell off significant portions of their massive holdings.

No Such Thing, Says Saylor

Although the actual claims that Strategy had been selling came from some rather small accounts (at first) with little credibility, they were quickly picked up and reshared by more established people within the community, some with more than 500,000 followers on X. Consequently, panic spread rapidly among some community members, but most seemed unfazed as they refused to believe that Strategy will indeed sell.

Saylor, the company’s bitcoin champion and co-founder, refuted the rumors on X and during an interview with CNBC. In fact, he doubled down on the asset, as he has done multiple times in the past during other such intense corrections, and noted that Strategy used the dip opportunity to accumulate more every day this week.

During the aforementioned CNBC interview, he explained that such volatility is expected in risk-on assets like BTC. He advised people who want to have bitcoin exposure to prepare for similar events, but to focus on a broader (4-year) scale in which the cryptocurrency outperforms every asset class.

Additionally, he said Strategy doesn’t have any trigger points in which it would be under pressure to dispose of its BTC holdings, and even an 80% drop would not harm it.

Before a new announcement comes on Monday about a Strategy purchase, the company’s known holdings following the last one stood at 641,692 BTC. Even with BTC’s correction, this stash is worth almost $62 billion.

Arkham Explains

Some reports claimed that Arkham Intelligence had insisted that Strategy indeed sold off, but the company also refuted these speculations and explained what actually took place. It outlined Strategy’s transfer of 43,415 BTC to more than 100 different addresses from Coinbase Custody to a new custodian.

“This does not mean that Strategy has sold their BTC, nor do transfers from Arkham’s Strategy entity automatically imply the sale of those assets,” its post reads.

The team reassured that Strategy “regularly undergoes wallet/custodian rotations,” and that most of the movements were reported Friday morning as a “continuation of those transfers.”

The post Saylor Shoots Down Sale Rumors: ‘Strategy Bought BTC Every Day This Week’ appeared first on CryptoPotato.

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