After many rounds of accumulation, MicroStrategy became the largest listed company holding Bitcoin a few months ago . In fact, according to data on the Bitcoin chain, MicroStrategy holds 108,991 Bitcoins as of press time.
On the contrary, according to documents submitted to the stock exchange at the end of the month, there have been some changes in the equity of MicroStrategy executives .
Bloomberg said that MicroStrategy’s chief financial officer and chief technology officer each sold $7 million in stocks last month.
At the same time, in the field of Crypto, the top eight executives are expected to earn approximately US$175 million in just one year.
The timing is interesting, especially as Bitcoin advocate Michael Saylor continues to promote the target on social media.
At the crypto conference last month, MicroStrategy’s CFO Phong Le and CTO Lang Timothy Edwin exercised their stock options . A similar trend appeared in April. In fact, before Bitcoin reached its all-time high in April, Saylor announced,
“@MicroStrategy’s board of directors is now paid in #Bitcoin. $MSTR”
This report attracted the attention of Mr. Whale, a popular evangelist in the encryption field, who believes that Saylor and his executives are implementing a classic “pump-and-dump” strategy .
It is worth noting that CEO Saylor himself has not sold any shares.
Mr. Whale believes that Saylor is actually transferring MicroStrategy’s BTC to an “opaque” limited liability company to avoid attracting public attention.
Mr. Whale stated on Twitter, “Michael Saylor urges everyone to buy bitcoin at a price of $51,000 today. However, he transferred all of MicroStrategy’s bitcoin to a shady LLC, which means that he can now file without filing with the SEC. Under circumstances . My guess is that Saylor is selling his bitcoin holdings to those he is actively trying to attract.”
According to data from the American Stock Exchange, Saylor transferred 50,000 shares of a Class A company to Alcantara LLC at the end of last year. The transaction was classified as a “gift to a charitable foundation, avoiding supervision.”
Since 2020, Saylor has been actively investing in Bitcoin as the “main fiscal reserve asset . ” Bitcoin now occupies a large part of the company’s capital, so that the company’s stock price has a tendency to imitate Bitcoin.
Now, although both MicroStrategy and Bitcoin have seen substantial growth in the past year, have the points worth paying attention to have changed?
In the past, Saylor has shown that he is a Bitcoin holder and he would not sell Bitcoin even in a downward trend.
However, the executives of top companies will not agree with the “hoarding” of debt financing . When they believe that the fair value of Bitcoin is lower than the current market price, they will choose to sell without hesitation.
We have entered the last quarter of 2021, which may be out of expectations for integration.
However, one may need to ask if Michael Saylor is really a strong supporter as he said. Since 2013, his Twitter has shown that he is not always that inclined to use Crypto.
However, for now, Saylor seems to be satisfied with the company’s Bitcoin holdings. In fact, recently he once again shared the joy of choosing Bitcoin over gold on Twitter.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/are-microstrategy-executives-not-optimistic-about-bitcoin-behind-the-sale-of-their-companys-stock/
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