The founder and CEO of the Bitcoin-accumulating, business-intelligence software company MicroStrategy, has dispelled rumors that his company has been quietly selling bitcoin.

MicroStrategy Isn’t Selling Stash

Last week, there were rumors that MicroStrategy, which holds a total of 129,218 bitcoins, had begun secretly selling its bitcoin stash, worth over $5 billion at Bitcoin’s current price of $38.5k as of this writing.

MicroStrategy CEO Michael Saylor explained that the Securities and Exchange Commission regulates his business. Any changes to bitcoin holdings should be reported via SEC filings.

The changes are to acquire and hold bitcoin and sell its crypto holdings. He also pointed out that the public records of MicroStrategy are “available to all.”

MicroStrategy Won’t Stop Purchasing Bitcoin

Microstrategy’s CEO clarified that it is not selling bitcoin. He also confirmed that they will be continuing to buy Bitcoin.

Saylor insists that Bitcoin provides a vital hedge against inflation. The asset outperformed other traditional commodities like gold and Nasdaq.

The Flipside

• Michael Saylor confirmed that the firm would continue to buy Bitcoin. He claimed that MicroStrategy was the nearest investor could get to a Bitcoin spot exchange fund.

Why you should care

Michael Saylor is a passionate advocate for Bitcoin and has inspired many institutional investors to invest in the digital currency.

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