Strategy Moved 3,568 Bitcoin Worth $297 Million. Is Michael Saylor Selling Again?
Nearly $300 million worth of Bitcoin just moved out of Strategy's wallets across a dozen transactions, and traders are demanding answers from Michael Saylor about whether his company is quietly offloading its prized crypto holdings.
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A total of 3,568 Bitcoin (CRYPTO:BTC), valued at about $297 million, moved from wallets linked to Strategy (NASDAQ:MSTR) over nine hours. This transaction immediately raised questions about whether Michael Saylor was selling Bitcoin again, especially since Strategy has already executed four sales this year.
As of September 29, Bitcoin was trading at $83,803, showing a slight increase of 0.9% over the past 24 hours. So, the question remains: Is Saylor selling Bitcoin again, or were these just internal wallet transfers?
Arkham Traced the 3,568 Bitcoin to Fidelity’s Own Custody Wallets
The Bitcoin moved through 12 separate transactions, with amounts ranging from about 138 to 452 Bitcoin, translating to about $12 million to $38 million each. However, Arkham analyst Emmett Gallic clarified that these transfers were neither sales nor meant for another party; they were simply routine shifts within Fidelity’s custody system.
Fidelity, which manages Bitcoin holdings for Strategy, treats all client Bitcoin as interchangeable. This lets them move coins between addresses as needed. Consequently, when Fidelity reorganizes its addresses, it can appear as though funds are leaving Strategy’s wallets, even though the company retains ownership.
It’s similar to a bank moving money between its own vaults, where a customer’s balance remains the same regardless of where the cash is stored. Arkham had already tagged the receiving wallets as Fidelity’s.
Coins can leave a company’s wallets for various reasons, such as selling, switching custodians, or using them as loan collateral. However, in this case, the coins remained with Fidelity and never reached an exchange’s deposit address—the typical first step before a sale.
Strategy Sold Bitcoin Four Times in 2026, Which Is Why the Transfer Drew Attention
Strategy first sold Bitcoin in December 2022 but did not make any further sales until late May 2026, when it sold 32 Bitcoin for $2.5 million. So far in 2026, the company has completed four sales, totaling around $218.4 million.
These sales occur with board approval, allowing up to $1.25 billion in Bitcoin to be sold to support its U.S. dollar reserve, which is set aside to cover dividends on its preferred stock. Michael Saylor, Strategy’s executive chairman, has indicated to investors, “We have the option to sell equity. We have the option to sell Bitcoin.”
This history of transactions is why traders wanted to know whether this latest move signaled another sale.
Strategy Bought 1,665 More Bitcoin the Week Before the Transfer
Around the time of the large Bitcoin transfer, Strategy disclosed it had acquired an additional 1,665 Bitcoin for about $142.7 million between September 21 and 27. This brought its total holdings to 847,666 Bitcoin, valued at roughly $71 billion at the current Bitcoin price.
Strategy has paid an average price of around $75,400 per Bitcoin across all its holdings, putting them about 11% in profit at present. The company possesses about 4% of the total 21 million Bitcoin that will ever exist, while U.S. spot Bitcoin ETFs hold about 6.3%.
With Strategy holding roughly two-thirds of the estimated 1.3 million Bitcoin valued at around $109 billion that public companies own, it significantly outweighs other corporate Bitcoin treasuries.
Is Michael Saylor Selling Bitcoin Again?
Michael Saylor is not selling Bitcoin right now. The 3,568 Bitcoin that moved did not leave Fidelity’s custody. Instead, Arkham tracked these changes to Fidelity’s internal address reshuffling, and Strategy even bought 1,665 Bitcoin in the week before. While the company still has the option to sell under its $1.25 billion approval, these latest transfers do not indicate any current sales by Saylor.
On-chain data only shows cryptocurrency movements, so any actual sales would first need to be reported in a company filing. If the next Form 8-K, which Strategy files with the SEC after major events, reveals a drop in Bitcoin holdings below 847,666 or includes details of sale proceeds, then a fifth sale may have occurred. Traders may see signs of selling before any official filing if coins start showing up in exchange deposit addresses.
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Sam Daodu is a crypto analyst who's spent nearly a decade making blockchain understandable—no easy task when most whitepapers read like fever dreams. He writes for 24/7 Wall St., covering Bitcoin, altcoins, and crypto market analysis for investors. Before crypto, he was a tech writer (back when explaining "the cloud" was peak innovation). Since 2018, he's written for CoinTelegraph, Yahoo Finance, The Block, Cryptonews, Zypto, Rain, and more—basically anywhere people want crypto news without the headache. Sam runs MacLabs Marketing, a content agency for crypto brands tired of sounding like AI wrote their website. He also publishes free crypto education on his site for Web3 enthusiasts who think "gas fees" is a typo. When he's not writing or staring at charts, Sam's either: - Watching anime (currently convinced One Piece has better tokenomics than most altcoins) - At the gym sculpting himself into a Greek god - Listening to the music your mum warned you only bad boys listen to Connect: LinkedIn | Email | MacLabs Marketing
