Strategy moves their bitcoins back and calms the market
The bitcoins sent to Coinbase Prime returned to a wallet attributed to Michael Saylor's company. The move involves 411.5 bitcoins (BTC), valued at $30.2 million.
There is no official confirmation of a sale from Strategy.
Strategy, the firm founded by Michael Saylor, withdrew a total of 411.5 units of the asset from Coinbase Prime (Coinbase's institutional service) to an address attributed to the company itself on May 29.
The move came just hours after those same funds were sent to the exchange, a transaction that sparked speculation about a possible BTC sell-off by the firm, as reported by CriptoNoticias. According to records from Arkham Intelligence, on May 28, Strategy transferred approximately 205 BTC and 206 BTC to deposit addresses on Coinbase Prime.
However, on May 29, those funds returned from Coinbase Prime to wallets identified as belonging to Strategy. The movements involved around $30.2 million at current market prices.
The bitcoins sent to Coinbase Prime returned to a wallet attributed to Michael Saylor's company. The move involves 411.5 bitcoins (BTC), valued at $30.2 million.
There is no official confirmation of a sale from Strategy.
Strategy, the firm founded by Michael Saylor, withdrew a total of 411.5 units of the asset from Coinbase Prime (Coinbase's institutional service) to an address attributed to the company itself on May 29.
The move came just hours after those same funds were sent to the exchange, a transaction that sparked speculation about a possible BTC sell-off by the firm, as reported by CriptoNoticias. According to records from Arkham Intelligence, on May 28, Strategy transferred approximately 205 BTC and 206 BTC to deposit addresses on Coinbase Prime.
However, on May 29, those funds returned from Coinbase Prime to wallets identified as belonging to Strategy. The movements involved around $30.2 million at current market prices.