Strategy CEO Denies Bitcoin Sale Amid Market Drop
Strategy CEO Michael Saylor denied reports that the firm sold 43,415 BTC worth $4.26 billion. The rumors spread after Arkham Intelligence showed large Bitcoin transfers to more than 100 addresses during a market downturn.
These transfers caused panic as Bitcoin’s price dropped below $95,000. However, Arkham Intelligence explained the moves were likely a custodian change, not sales. They said Strategy moved BTC from Coinbase Custody to a new custodian as part of a wallet rotation.
Arkham Intelligence Clarifies On-Chain Bitcoin Transfers
- The transfers are part of internal system adjustments or custodian changes.
- On-chain movements do not mean Strategy sold any Bitcoin.
- Such large moves often cause false fears during bearish markets.
Strategy’s Bitcoin holdings remain steady at about 641,692 BTC, according to BitcoinTreasuries. Since 2020, the company has treated Bitcoin as its main treasury reserve and keeps buying during dips.
Saylor Confirms More Bitcoin Purchases Coming
Saylor took to X to dismiss sale rumors and told CNBC that Strategy is buying more Bitcoin. He said recent price levels are a strong base and expects more purchase announcements soon.
Saylor is optimistic about Bitcoin’s future. He predicts the cryptocurrency will outperform gold and the S&P 500 by the end of 2025.
On Friday, Strategy’s stock (MSTR) dropped 4.2% as Bitcoin briefly fell below $95,000 but rebounded to about $96,500 at publication.
