🔥Michael Saylor (Strategy) moves over 400 BTC. Is a sell-off looming? 👀
Strategy, the public company with the largest
#bitcoin in the world, deposited 411.48
#BTC (approximately $30 million) to Coinbase Prime, sparking speculation about a potential sell in the market
#cripto .
These rumors emerged due to the latest statements from
#MichaelSaylor . Initially, the 'never sell' Bitcoin stance was well-received by the crypto community; however, this year it shifted. During the Q1 earnings call, Saylor hinted at potentially selling some bitcoins to pay dividends.
The on-chain analytics platform
#Lookonchain detected Bitcoin movements on May 28. Strategy deposited 411.48 BTC, valued at around $30 million, to an external wallet address owned by Coinbase Prime.
Now, the deposit to this platform doesn’t necessarily indicate they will sell their Bitcoins. This platform is used by institutional investors to rebalance their portfolios, use them as collateral for loans, facilitate OTC transactions, or simply reorganize their internal wallet infrastructure. Finally, if they decide to sell, this is the platform to do it.
Do you think Strategy will finally sell Bitcoins for the first time?
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