Many within the crypto community are surprised by CryptoVinco’s conviction that the wallet belongs to Michael Saylor.

According to community members, the wallet in question holds more BTC than MicroStrategy, which currently stands at around 129,699 BTC, according to data from CoinGecko.

On the other hand, Blockchain explorer data showed that the whale wallet had transacted 851 times, receiving 241,914 BTCs and spending all.

The wallet has a balance of less than $200 as of press time. Also, Michael Saylor has always maintained that his firm would continue

to hodl its Bitcoin holdings regardless of its price performance –evidence of this was its purchase of additional 480 BTCs during the thick of the bear market.

According to OKlink data, a bitcoin whale address created in 2013, which has been dormant since May 2021, recently moved 5,000 BTC to the Kraken exchange.

Such transfers raise concerns about increasing selling pressure. However, it could also mean that the whale was moving assets to another address.

Meanwhile, Cryptoquant data has revealed that long-term holders are moving their BTC to derivatives exchanges. This means that whales can use their assets to establish long positions or

hedge spot positions using shorts. Nevertheless, Santiment said the number of new wallets between 100 and 10,000 BTC increased by 103 in the past 30 days as of August 28.