Strategy Moves 7,383 BTC Worth $796 Million To New Wallets

Strategy, a prominent institutional investor in Bitcoin, recently transferred 7,383 BTC, valued at approximately $796 million, to three new wallets. This transaction, which took place about 11 hours prior, is believed to be aimed at improving storage conditions. Historically, Strategy has only sold 704 BTC worth $11.81 million on December 22, 2022, at a price of $16,776 per BTC. However, the company quickly repurchased 810 BTC worth $13.64 million just two days later on December 24, 2022, at $16,845 per BTC. This transaction underscores Strategy's commitment to a buy-and-hold policy, as the company does not typically sell its Bitcoin holdings.

Michael Saylor, the founder of Strategy, has renewed speculations about the company's Bitcoin purchases for the upcoming week. Saylor's Sunday posts, which feature a chart highlighting the scale of Strategy's Bitcoin investments, have become a traditional weekly signal for the market. These posts, marked with orange dots indicating each purchase, suggest that Strategy will continue its Bitcoin buying spree for the 11th consecutive week. Following Saylor's past announcements, the company has consistently increased its Bitcoin holdings, indicating a likely purchase of BTC today.

Strategy's most recent Bitcoin purchase occurred on June 23, when the company acquired 245 BTC for $26 million. This purchase brought Strategy's total Bitcoin assets to 592,345 BTC, valued at over $63.6 billion. The company's persistent buying strategy has solidified its position as a major player in the Bitcoin market, with its actions often influencing market sentiment and expectations.