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Did Michael Saylor Sell Bitcoin or Not? The Final Word Has Been Given

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Source: CryptoNewsNet Original Title: Did Michael Saylor Sell Bitcoin or Not? The Final Word Has Been Given Original Link: It has been confirmed that the recent allegations that Michael Saylor’s company MicroStrategy sold Bitcoin (BTC) are false.

Updated on-chain data provided by Arkham revealed that the transactions in question were not sales, but transfers between storage providers.

Over the past two months, the company has diversified its custody services away from a certain compliance platform, moving a total of 58,390 BTC (approximately $5.1 billion) to Fidelity Custody. Fidelity’s omnibus custody model is the root cause of this confusion: Because all client assets are held in the same wallet, MicroStrategy’s Bitcoin holdings appear to be commingled with other clients’ holdings.

For this reason, some Bitcoin previously listed under the MicroStrategy label on Arkham are now listed as Fidelity Custody assets. While this may appear to be a sale, the entire movement stems from a change in custody provider.

According to Arkham data, when transfers to Fidelity are included, the platform can track approximately 92% of MicroStrategy’s Bitcoin holdings. The company’s total Bitcoin holdings stand at 641,692 BTC (approximately $56.14 billion), of which 165,709 BTC (approximately $14.5 billion) have been sent to Fidelity Custody.

BTC-1.11%
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