A wallet potentially linked to Strategy moved 299.84 BTC, worth about $18.91 million, a transfer flagged by onchain tracker Lookonchain, reviving questions about whether Michael Saylor’s firm is preparing to sell bitcoin again.
Key Takeaways
Lookonchain reports a Strategy-linked wallet moved 299.84 BTC ($18.91M), akin to pattern seen before July’s $216M sale.Strategy sold 3,588 BTC for about $216 million between July 1 and July 5, its first standalone net reduction since 2022.Strategy has issued no official statement on the alleged transfer.The comparison to July isn’t a stretch given that the last time a Strategy-linked wallet moved BTC was between July 1 and July 5, and during that week, the company sold 3,588 BTC for roughly $216 million.
What Happened in JulyThe sale ended four years of Saylor’s public “never sell” pledge, a stance he had repeated at nearly every earnings call since Strategy began accumulating bitcoin. Strategy executives had already signaled the possibility during the company’s first-quarter earnings call, saying the firm might sell some holdings to fund STRC dividends, with the expectation that doing so would eventually let Strategy buy back more bitcoin than it sold.
Since the company is simultaneously the market’s largest corporate bitcoin buyer and, as of this year, an occasional seller, each new movement makes it harder to read on its own.
A Cash Cushion That Complicates the Sell TheoryStrategy currently holds 843,775 BTC, bought for a combined $63.69 billion at an average price of $75,476 per coin, making it the largest corporate bitcoin treasury in the world by a wide margin. Whether the 299.84 BTC transfer turns into a disclosed sale or simply another wallet reshuffle will likely become clear within days, given how closely both onchain trackers and Strategy’s own SEC filings are being watched right now.
