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This has thrown fuel on speculations about other big BTC holders unloading their assets into the market. MicroStrategy and its CEO Michael Saylor have been the target of a majority of these speculations.Did Tesla Trigger A Bitcoin Selling Domino Effect?
Research firm Jarvis Labs the rumors claiming the address most likely belongs to a “top trader”. The wallet has been accumulating Bitcoin since January 2019.Wallet labels are incredibly complex and a sensitive topic. As they lack confirmations from the concerned party most of the time. So take such noise with a grain of salt. Relax, he has not been selling yet, even if assumed it was Saylor’s MSTR wallet.
Saylor Replies To Rumours On Their Bitcoin Holdings
CEO at CryptoQuant Ki Young Ju claimed the rumors about the wallet unloading their Bitcoin into the market are “FUD”. The executive said the transactions associated to address 1P5Z are part of an internal transfer.For the record, “1FzW…” has closer ties to hot wallets like “1NYA…” and “bc1quq…” and these are not Coinbase or OKx. These are Gemini hot wallets.Lots of on-chain data providers mislabeled them. See this tweet for more details.
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Replying to all these rumors and speculation, Saylor tweeted with two emojis representing “diamond hands”. In the past, the executive said their plans are to hold Bitcoin “forever” dismissing any idea of dumping their BTC.?? — Michael Saylor⚡️ (@saylor)