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Saylor’s Strategy Moves $796 Million in Bitcoin. What’s Happening?
On Sunday, Strategy (MicroStrategy) moved a total of $796 million to three new wallets, according to data provided by analytics platform Lookonchain
The move is likely meant to enhance the security and management of the assets
Strategy's current Bitcoin holdings are now approaching 600,000 BTC. Last week, the company announced a relatively modest purchase of $26 million
Has Strategy ever sold Bitcoin?
Strategy co-founder Michael Saylor has repeatedly rejected the idea of selling Bitcoin
The prominent Bitcoin maximalist previously described the leading cryptocurrency as "the exit strategy."
Saylor also claimed that selling the leading cryptocurrency would irreparably damage the trust with the broader community. As reported by U.Today, he stated that Bitcoin supporters would go "ballistic" if this were to happen
Historically, Strategy sold Bitcoin only on one occasion. MicroStrategy (now Strategy) sold 704 BTC on December 22, 2022, due to tax-loss harvesting. The company bought back 810 BTC for around $13.6 million two days later