- Wallets connected to Strategy moved 3,568 BTC, valued at roughly $297 million, sparking initial speculation about another potential Bitcoin liquidation.
- Data from Arkham indicates these transactions were standard Fidelity Custody procedures, with no evidence pointing to a sale by Strategy.
Bitcoin wallets associated with Strategy recently transferred 3,568 BTC, an amount valued at approximately $297 million. Blockchain analytics platform Lookonchain detected 12 separate transactions spanning a nine-hour window, with individual transfers varying between 138 BTC and 452 BTC. Because Strategy ranks as one of the largest corporate holders of Bitcoin, these movements immediately drew scrutiny. However, Emmett Gallic, an analyst at Arkham Intelligence, clarified that the activity did not signal a sell-off. Gallic explained that the transactions reflect routine operations inside Fidelity Custody, noting that Arkham’s platform already labels these addresses as belonging to Fidelity.
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 heightened due to Strategy’s recent history of liquidating holdings. The company initiated its Bitcoin Monetization Program on June 29, designed to sell Bitcoin in periodic cycles to build up U.S. dollar reserves. This initiative gives the firm authorization to secure up to $1.25 billion.
Strategy has previously executed transactions under this framework. Between June 29 and June 30, the firm unloaded 1,363 BTC at an average price of $59,256 per coin. Subsequently, it liquidated another 2,225 BTC between July 1 and July 5 at an average price of $60,773 per Bitcoin. Consequently, the latest wallet movements naturally caught the attention of traders, even though Arkham found no indication of any recent sales.
Bitcoin Buy Continues for Strategy
In contrast to its earlier sell-offs, a new regulatory filing shows Strategy continuing to accumulate Bitcoin. Between September 21 and September 27, the company acquired 1,665 Bitcoins at a total cost of roughly $142.7 million, translating to an average purchase price of approximately $85,681 per coin.
Following this latest acquisition, Strategy’s aggregate Bitcoin reserves climbed to 847,666 BTC. The company has invested a total of roughly $63.95 billion to accumulate 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, placing the current market price more than 10% above Strategy’s average acquisition cost. This latest acquisition was funded through MSTR sales alongside the allocation of $103.5 million toward buying STRC preferred shares. At present, Strategy retains $6.02 billion in U.S. dollar reserves.
Highlighted Crypto News:
Tether’s USDT Faces Senate Scrutiny Over Iran Crypto Transactions
Frequently Asked Questions
Why did Strategy transfer 3,568 BTC?
According to Arkham Intelligence, the 3,568 BTC transfer was not a sale. Instead, it represented regular operational movements within Fidelity Custody, where customer deposits are treated as fungible and moved as needed.
How much Bitcoin does Strategy currently hold?
Following its acquisition of 1,665 Bitcoins between September 21 and September 27, Strategy’s total holdings reached 847,666 BTC.
What is Strategy’s average acquisition price for Bitcoin?
Strategy’s overall average purchase price is $75,437 per Bitcoin, based on a total expenditure of roughly $63.95 billion for its reserves.
