700 million USD: Strategy sends Bitcoin to Coinbase
- Strategy (formerly MicroStrategy) recently undertook a major restructuring of its Bitcoin holdings. According to data from Arkham, the company moved a total of 6,162 Bitcoin in 30 tranches. The total value of the transactions at the time of the transfers was over $700 million.
- The coins originated from various internal addresses marked as “Strategy (formerly MicroStrategy)” in blockchain trackers. They were collectively transferred to addresses associated with Coinbase Prime Custody.
- This move indicates that the company is further consolidating its holdings and transferring them to the custody of the US custodian.
- Coinbase Prime Custody is considered a specialized custody solution for institutional investors and companies seeking to secure large amounts of digital assets. The custody service provider offers, among other features, segregation of client holdings, multi-party authorization, and insurance coverage.
- The BTC holdings of ETF issuers BlackRock and Co. are also held here.
- With the latest BTC purchase, Strategy has a total of nearly 640,000 BTC. The average price for all BTC investments is $73,971.
- While Michael Saylor's Strategy may be the largest publicly traded BTC holder, it's no longer the only Bitcoin treasury firm in the global financial market. More and more public companies are developing a BTC strategy, including GameStop, Rumble, Twenty One, Nakamoto, and even the Paris Saint-Germain soccer club. A company in Germany is also investing in Bitcoin as part of its financial strategy: How a German company is emulating Strategy.
- Why Saylor is the biggest threat to Bitcoin – at least that’s what Prof. Co-Pierre Georg believes – you can hear here:
Recommended Video Why Michael Saylor is the biggest threat to Bitcoin
source
- Arkham Strategy Wallet
