Strategy Moves $297M in Bitcoin After Latest Purchase; Should Traders Be Concerned?

Strategy has transferred 3,568 Bitcoin (BTC) worth roughly $297 million, just hours after the company added another 1,666 BTC to its massive holdings.

The movement has raised questions about whether Strategy is preparing to sell some of its Bitcoin or simply moving coins between wallets.

Blockchain tracking firm Whale Alert highlighted the transaction in an X post Monday, asking whether Michael Saylor’s Strategy was “dumping BTC again, or just moving funds to new wallets?” The tracker said the company transferred the 3,568 BTC over a nine-hour period.

Notably, while there is no confirmation that Strategy has sold the Bitcoin, the timing of the transfer is interesting.

On September 28, Michael Saylor disclosed that Strategy had purchased 1,666 BTC for approximately $142.7 million at an average price of $85,681 per coin. The purchase pushed its Bitcoin holdings to 847,666 BTC, representing roughly 4% of Bitcoin’s maximum supply.

That followed a 950 BTC purchase announced on September 21 for about $75.7 million. Across three September purchases, Strategy has added roughly 7,200 BTC after selling thousands of coins earlier this year.

Strategy had previously sold 6,948 BTC for approximately $431.8 million in net proceeds, or around $62,150 per Bitcoin. In August, it also sold another 1,690 BTC and used the proceeds to repurchase STRC.