The prominent Bitcoin player, formerly known as MicroStrategy, has transferred over 8,000 BTC (valued at more than $700 million) into four newly designated wallets, as reported by blockchain analytics firm Arkham Intelligence.
On-chain data reveals that these transactions took place over four separate transfers between April 2 and April 5.
The initial transfer saw 1,063 BTC (approximately $92 million) redirected to a wallet labeled 334XC2q on April 2.
Three more transactions followed on April 5, including a transfer of 3,174 BTC (around $265 million) to the address bc1qa8pw, 939 BTC (valued at $79 million) sent to bc1qpdq1, and 3,269 BTC (approximately $273 million) moved to bc1qf5u.
Market Concerns
However, he later reconsidered his opinion amid worries that the company might be preparing to sell some of its Bitcoin assets to meet its financial commitments.
He shared on social media:
“At first, I believed these were just new addresses for the company and didn’t give them much thought. However, in light of recent developments, I’m now contemplating the possibility that these transactions could be linked to selling or serving as collateral for loans.”
This week, numerous Bitcoin-focused social media accounts began speculating that the company led by Michael Saylor might need to liquidate some of its Bitcoin assets.
The speculation gained traction following a regulatory filing submitted by the firm on April 7. They cautioned that if they are unable to secure funding on time or if Bitcoin’s current price continues to struggle, they might have to sell a portion of their Bitcoin assets to meet financial obligations.
This represented a shift for the company, which has historically claimed it would never sell its Bitcoin. Although they described this disclosure as a standard legal measure, it has still caused considerable concern, particularly given Bitcoin’s recent performance.
The current market volatility has been tied to uncertainty in the global markets, partly driven by US President Donald Trump’s tariff strategies. These challenges have had repercussions across traditional finance and cryptocurrency.
In response to the escalating worries, Saylor has tried to alleviate anxiety. He tweeted “HODL,” reiterating the company’s commitment to maintaining its assets despite the prevailing market situation.
The company remains the largest public holder of Bitcoin, with 528,185 BTC, which is worth around $40.61 billion. According to data from Saylortracker, their unrealized profits amount to about $5 billion.