Bitcoin’s latest downturn has caused considerable speculation about whether Strategy’s (formerly known as MicroStrategy) massive holdings are playing a role in the market’s weakness. The concerns escalated sharply when wallet-monitoring platforms flagged large Bitcoin transfers linked to the company, sparking widespread claims that a major sell-off had begun.
The conversation gained even more traction when a widely circulated report alleged that Strategy had slashed its Bitcoin holdings by tens of thousands of tokens. Michael Saylor moved quickly to address the rumor, but the back-and-forth between on-chain interpretations and official statements raises questions of what is really happening behind the scenes.
How Wallet Movements Turned Into Full-Blown Sell-Off Rumors
The controversy started when Walter Bloomberg shared a post citing Arkham Intelligence and claiming Strategy had reduced its Bitcoin stash from 484,000 BTC to roughly 437,000 BTC.
The alleged drop of about 47,000 BTC immediately led to questions as to whether the company had quietly begun liquidating. Saylor responded directly beneath the post, stating, “There is no truth to this rumor,” dismissing the claim outright.
As the situation spread across social platforms, Arkham Intelligence later clarified what actually happened. In a post on X, the firm explained that Strategy had moved 43,415 BTC since midnight UTC, worth over $4.2 billion, but also noted that the activity consisted of routine custodian rotations.
According to Arkham, the transfers were due to movement from Coinbase Custody to a new custodian, along with internal rebalancing and wallet refresh processes. None of the movements indicated sales and that Strategy frequently performs these custodial transitions. Anyone tracking these wallet clusters over the past two weeks would have seen similar flows, eventually followed by relabeling once new addresses were established.
Saylor’s Public Reassurance And Continued Bitcoin Accumulation
In response to the swirling speculation, Saylor took a definitive stance to calm markets. While speaking at an interview on CNBC, Saylor addressed the controversy, stating that Strategy had not sold any Bitcoin and had no plans to do so.
His remarks left no ambiguity as he said, “We are buying; we’ll report our next buys on Monday morning.”
He went further to describe the company’s financial position and long-term confidence, noting that the firm has put in a very strong base around here with its Bitcoin holdings. Saylor also highlighted that Strategy’s debt structure does not impose immediate obligations, saying the debt is still “4.5 years out.” This means there is currently no financial pressure that would require liquidation of Bitcoin.
Shortly after the interview, he reinforced his message on X, stating plainly, “We bought bitcoin every day this week,” which directly contradicts any claims of ongoing sell pressure from Strategy.
In terms of price action, Bitcoin has spent most of this week on a downtrend, which now puts its price trading below $100,000. At the time of writing, Bitcoin is trading at $96,084.
Featured image from Unsplash, chart from TradingView
