- Wallets connected to Strategy moved 3,568 BTC, valued at approximately $297 million, sparking speculation about another potential Bitcoin liquidation.
- Data from Arkham indicates these transfers were standard Fidelity Custody operations, with no evidence pointing to a sale by Strategy.
Bitcoin wallets associated with Strategy recently transferred 3,568 BTC, representing a value of roughly $297 million. The blockchain analytics platform Lookonchain detected 12 separate transfers occurring over a nine-hour period, with individual transaction amounts varying from 138 BTC to 452 BTC. Because Strategy ranks among the largest corporate holders of Bitcoin, these movements drew significant scrutiny. Nevertheless, Emmett Gallic, an analyst at Arkham Intelligence, clarified that the activity did not signal a sell-off. Gallic explained that the transfers represent routine procedures within Fidelity Custody, noting that Arkham had previously identified these specific addresses as Fidelity wallets.
These are neither selling or moving.
These are normal movements within Fidelity Custody.
Fidelity treats all customer BTC deposits as fungible and will move the funds as needed.
Addresses are already reflected as Fidelity on Arkham— Emmett Gallic (@emmettgallic) September 29, 2026
Previous Bitcoin Sales Have Contributed to the Confusion
Market anxiety was amplified by Strategy’s past decisions regarding Bitcoin monetization. The company initiated its Bitcoin Monetization Program on June 29, designed to liquidate Bitcoin in phases to build USD reserves. This initiative gives the firm access to up to $1.25 billion.
Furthermore, Strategy had previously disclosed similar transactions. The company offloaded 1,363 BTC between June 29 and June 30 at an average price of $59,256 per coin, followed by the sale of 2,225 BTC between July 1 and July 5 at an average of $60,773 per Bitcoin. Consequently, the latest wallet movements immediately captured traders’ attention, although Arkham confirmed no sales were tied to these recent transactions.
Bitcoin Buy Continues for Strategy
In contrast to past liquidations, a recent filing shows that Strategy has continued acquiring Bitcoin. Between September 21 and September 27, the company purchased 1,665 Bitcoins at a total cost of roughly $142.7 million, translating to an average acquisition price of about $85,681 per coin.
Following this acquisition of 1,665 Bitcoins, Strategy’s total reserves climbed to 847,666 BTC. The company has invested roughly $63.95 billion into these holdings, bringing its overall average purchase price to $75,437 per Bitcoin.
With Bitcoin trading near $83,800, the estimated market value of these reserves sits at nearly $71 billion. This puts the current market price more than 10% above Strategy’s average cost basis. The latest acquisition was funded using proceeds from MSTR sales alongside $103.5 million allocated toward buying STRC preferred shares. Additionally, Strategy maintains $6.02 billion in U.S. dollar reserves.
Highlighted Crypto News:
Tether’s USDT Faces Senate Scrutiny Over Iran Crypto Transactions
