Is MicroStrategy Preparing to Sell Bitcoin Holdings?
MicroStrategy, the largest publicly traded Bitcoin holder, recently moved 1,652 BTC—valued at around $114.38 million—to a new wallet. This move comes after its Q3 2024 earnings, raising speculation within the crypto community. The wallet, which shows only this single transaction, signals a possible intent to securely hold rather than sell.
MicroStrategy Moves 1,652 BTCs To A Wallet
Lookonchain reported that MicroStrategy transferred 1,652 BTC to a new wallet on November 2, marking the first transaction to this address. This has raised questions as the company may be relocating its Bitcoin holdings. This strategic move underscores the company’s proactive approach to fine-tuning its holding.
Valued at an impressive $114.38 million, this transaction not only raised eyebrows but focused on MicroStrategy’s unwavering confidence in Bitcoin’s long-term potential as well. Also, it highlights the firm’s commitment to enhancing the security of its digital assets.
The company now holds a staggering 252,220 BTC, which equates to an estimated $17.56 billion in value based on current market rates. With an average buying price of $39,266 per BTC, MicroStrategy is currently seeing an unrealized profit of around $7.65 billion.
