Strategy Transfers 7,383 BTC to New Wallets, Likely for Improved Custody

In Brief:

Strategy transferred 7,383 BTC (approx. $796 million) to three new wallets, possibly to enhance asset custody.

The company has previously maintained a buy-only strategy, with limited selling activity.

Strategy (formerly known as MicroStrategy) has recently moved 7,383 BTC, valued at approximately $796 million, to three new wallets, according to monitoring by Lookonchain. This move is speculated to be part of an effort to improve the company's asset custody methods. Strategy has historically maintained a conservative approach to its Bitcoin holdings, with a buy-only strategy and minimal selling activity. The last notable transaction occurred in December 2022, when the company sold 704 BTC for around $11.81 million, only to quickly buy back 810 BTC at a slightly higher price. The recent transfer of BTC further reinforces Strategy's commitment to holding and securing its Bitcoin reserves.

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