Strategy Moves 3,568 Bitcoin in Mysterious Transaction
Strategy, the Nasdaq-listed company led by Michael Saylor, moved 3,568 Bitcoin worth around $297 million in a recent transaction.
The movement sparked speculation about whether Saylor was selling more Bitcoin, but it appears to be just an internal transfer within Fidelity's custody system.
Arkham analyst Emmett Gallic confirmed that the coins remained with Fidelity and didn't reach any exchange deposit addresses, which is typically a sign of a sale.
This isn't the first time Strategy has moved large amounts of Bitcoin; in fact, it sold four times this year, totaling around $218 million under its board-approved authorization to fund preferred stock dividends.
The company's total holdings now stand at 847,666 Bitcoin, valued at roughly $71 billion at current prices.