A wallet thought to be connected to Michael Saylor’s Strategy company transferred 299.84 BTC, valued at around $18.91 million. The onchain tracker Lookonchain flagged this move, drawing attention due to its resemblance to a pattern seen just before Strategy’s massive bitcoin sale in July.
Last month, between July 1 and 5, Strategy offloaded 3,588 BTC for about $216 million. That sale broke a four-year streak since Saylor’s firm had maintained a strict “never sell” policy. The July transaction was linked to covering dividend payments on the company’s perpetual preferred stock rather than a shift in bitcoin conviction, and it resulted in a $203 million realized loss.
Now, the recent transfer surfaced nine hours before Lookonchain’s alert, and another analytics platform, Onchain Lens, confirmed it. They suggest this could precede a similar disclosure from Strategy. Yet the company remains silent on the matter, leaving investors to wonder if another large-scale sale might be imminent.
Strategy’s July sale marked a dramatic swing in its quarterly results, flipping from a $14 billion profit to an $8.2 billion loss as bitcoin’s price dipped. The firm’s executives had already hinted at selling some holdings to fund STRC dividends, with the hope that future buybacks would offset the reductions.
Watchers will likely keep an eye on any new filings or announcements. Such bitcoin movements by major holders can unsettle markets and have ripple effects across crypto portfolios.
This material is for informational purposes and does not constitute financial advice.
