A crypto influencer has uncovered a whale that has sent more than 200,000 Bitcoins (BTC) to exchanges. Saylor’s MicroStrategy is at the center of the rumors. Also, the influencer suggested that the whale carried out this transaction with the intention of selling BTCs.
Is MicroStrategy the whale dumping Bitcoin on exchanges?
CryptoVinco, a leading crypto influencer, shared an interesting transaction on the BTC Blockchain. According to the screenshot of the transaction shared by CryptoVinco, one of the biggest Bitcoin whale addresses seems to have sent its BTC assets to the exchanges in July.
Holders often send their cryptocurrencies to exchanges when they consider selling their holdings. So this process seems to indicate that possibility. However, a more interesting fact is Michael Saylor’s claim that this whale address could be MicroStrategy’s BTC address. CryptoVinco shared the screenshot of Blockchain transactions and made the following statement:
One of the biggest Bitcoin whales with over 200,000 BTC has sent ALL their coins to exchanges. I’m 99% sure this is Michael Saylor’s Bitcoin address. They plan to sell everything. When it sells out soon, expect a bloodbath like we’ve never seen before.
Some users gave mixed reactions to the allegations with shocking expressions. However, others highlighted the fact that the address holds more BTC than MicroStrategy has publicly revealed. In light of this, they denied the company’s claims regarding the address.
This is the address in the blockchain explorer: 1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ. It shows that the wallet has transacted 851 times and sent and received an equal amount of 241,914 BTC worth $4 billion against the common rate. The address has systematically dumped BTC in a series of unequal consecutive transactions since July 18. The last transaction, which took place on July 21, involved 4,006 BTC.
What if the address is confirmed to belong to MicroStrategy?
cryptocoin.comAs you follow, Michael Saylor, one of the foremost Bitcoin maximalists, has continued to raise his firm’s BTC holdings despite what the crypto winter has done to the markets. While Tesla dumped its BTC, MicroStrategy bought another 480 BTC from May to June amid the bear market. The firm has increased its BTC holdings to 129,699 tokens as of June 29.
What happens if MicroStrategy abandons BTC holdings? According to experts, it is possible to create a ripple effect that could potentially crash the markets. Meanwhile, investors Mt. Waiting for big BTC payment from Gox. Therefore, the atmosphere within the crypto community is already quite tense.
BTC is currently changing hands at $19,800 as of press time. The asset fell below the $20,000 psychological support. But it avoided a free fall to lower levels. If this address is confirmed to belong to MicroStrategy, experts say the resulting bearish sentiment will be enough to give the bears full control of the markets.
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