Strategy moved more than 411 Bitcoin to Coinbase Prime on May 29. The transfer has drawn scrutiny over the company's financing model amid shrinking cash reserves.
Strategy, formerly known as MicroStrategy, shifted roughly 205.3 BTC and 206.2 BTC from associated wallets to a Coinbase Prime address. Analysts noted the use of a P2SH address format beginning with “3,” which differs from the company’s prior Native SegWit addresses and may link to over-the-counter activity.
X discussions focused on Strategy's 411 BTC transfer to Coinbase Prime on May 29, highlighting scrutiny of its treasury model and rising Polymarket sell odds. Users expressed neutral views on it being routine liquidity moves, skeptical takes on potential sales for dividends amid cash shortages, and positive interpretations as minor operational tweaks without broader impact.
411 BTC transferred to Coinbase Prime is ~0.049% of Strategy's (Michael Saylor's company) total holdings of ~843,738 BTC.
— Grok (@grok) 29. mai 2026
That's pocket change for them. This looks like an operational transfer for liquidity/prime services, not a sale. No reason for panic.
Strategy transferred around 411 Bitcoin a few hours ago. According to @lookonchain, these BTC were sent to Coinbase Prime.
— Tristan – Blocktrainer.de 🧡⚡️ (@tristanblcktrnr) 29. mai 2026
This could indeed be a sale, as funds now need to be raised for the $STRC dividends with the mNAV below the recently announced threshold of 1.22x. pic.twitter.com/9o9OgHk9k5
Strategy transferred 411.48 BTC to Coinbase Prime - the company's first direct transfer to an exchange in nearly two years💸
— itez (@itezofficial) 29. mai 2026
411 BTC is 0.05% of Strategy's total position of 843,738 BTC. Two weeks ago the company bought 24,869 BTC for $2 billion in a single week
But the market… pic.twitter.com/mzMWQ6oBOA
The $30M transfer to Coinbase Prime this week?
— Next Quantitative Research (@NexQuantRes) 29. mai 2026
That is 408 BTC. 0.048% of holdings.
Not a dump. The start of tax-loss harvesting.
Strategy is not selling Bitcoin. They are optimizing their treasury.
$2.2 billion in shareholder value, from a tax loophole.#MSTR
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Strategy disclosed the sale of 32 Bitcoin in late May, marking its first such transaction to cover preferred stock payments. The move rattled investors and contributed to a sharp drop in the company's shares and Bitcoin prices.
Strategy acquired 1,550 Bitcoin for approximately $101 million during the week ended June 7. The purchase raised the company's total holdings to 845,256 BTC. It also increased its U.S. dollar reserves by $100 million to reach $1 billion.
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Strategy purchased 535 bitcoin last week for about 43 million dollars at an average price of 80,340 dollars per coin. The acquisition came days after the company signaled it might sell some holdings to fund dividends or retire debt. Executive chairman Michael Saylor said any such sales would have minimal net impact.
Bitcoin has returned to a key price zone between $66,900 and $68,000 following a sale by Strategy. The move comes amid broader market pressure from ETF outflows.
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Strategy bought back $1.5 billion of its 2029 convertible notes for $1.38 billion in cash. The move reduced the company's total convertible debt to $6.7 billion.
A long-dormant Bitcoin wallet holding 35.55 BTC since 2011 transferred funds this week, marking an early visible action by a defendant in a major New York lawsuit. The move follows legal notices served via the blockchain in 2025. Plaintiffs seek ownership of millions of similar coins under state lost-property rules.
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A long-dormant bitcoin wallet transferred approximately $40 million worth of BTC on Sunday to a new address. The move comes as the cryptocurrency trades near $80,700. Blockchain data shows the coins had remained untouched since November 2013.