Fear mongering: Will Michael Saylor crash the market with his bitcoin sales?

A blogger has suspected a horrifying thing — according to his information, Michael Saylor has sent a large amount of BTC to exchanges to sell it. It’s not officially confirmed yet, but we’ve gathered all the details on the subject.

What’s known about the case

Cryptoblogger CryptoVinco has described the details of transactions made by one of the largest BTC whales who recently sent a significant amount of coins to an exchange. He claims that the address may be the bitcoin wallet of Michael Saylor of MicroStrategy.

The blogger writes:

I’m 99% certain this is Michael Saylor’s Bitcoin address, and they’re planning to sell everything. When he soon sells, expect a bloodbath to the likes we’ve never seen ever before.

The statement was met with mixed reactions from the public: some users were shocked by this fact because Michael Saylor is a preacher of all hodlers, and now he is destabilizing the market with his sales. Some have linked such forced spending by Michael to his recent tax problems with the authorities, which may have caused him to need more money.

Others doubted the validity of this data, noting that there were more BTCs in this address than MicroStrategy was publicly announced.

Another version is that it’s just a market manipulation, which puts pressure on the mind of alarmists:

Whoever is moving that 200k BTC is possibly using 200 IQ tactic on you — simply moving 200k BTC to exchanges doesn’t mean there is an intention to sell it, it is to create panic and make you ppl sell. They know you are watching on chain analytics. Selling would be done instantly.

More info

According to public data, this wallet made 851 transactions, sending and receiving 241,914 BTC worth $4 billion. This address has been systematically sending BTCs in various portions since July 18. The last transaction took place on July 21 and contained 4,006 BTC.

MicroStrategy and Michael Saylor have not yet commented on this heated discussion.