Strategy Inc. Stock Drops Amidst $297 Million Bitcoin Transfer

Strategy Inc., the company behind Michael Saylor's Bitcoin advocacy, saw its stock drop by roughly 3% to $156.51 on Tuesday.

This decline came amidst a $297 million transfer of BTC from Strategy-linked wallets over nine hours, sparking concerns that the firm might be selling its Bitcoin holdings.

However, Arkham analysts clarified that these transfers were internal Fidelity Custody moves and not a sale of Strategy's Bitcoin.

In fact, the company had purchased 1,665 more BTC last week for $142.7 million, bringing its total holdings to 847,666 BTC worth approximately $71 billion at current prices.