MicroStrategy has transferred $796 million in Bitcoin into new wallets, likely aimed at enhancing asset management and security.
Transfer of MicroStrategy Funds
On Sunday, MicroStrategy moved a total of $796 million to three new wallets, according to data provided by analytics platform Lookonchain. This move is likely aimed at enhancing the security and management of their assets. Currently, the company's Bitcoin holdings are nearing 600,000 BTC. Last week, MicroStrategy announced a relatively modest purchase of $26 million.
Attitude Toward Selling Bitcoin
Co-founder Michael Saylor has repeatedly rejected the idea of selling Bitcoin. He has described the leading cryptocurrency as 'the exit strategy'. Saylor also stated that selling Bitcoin would irreparably damage trust with the wider community, claiming that Bitcoin supporters would go 'ballistic' if this were to happen.
History of MicroStrategy Sales
Historically, MicroStrategy has sold Bitcoin only once. On December 22, 2022, the company sold 704 BTC for tax-loss harvesting, but two days later bought back 810 BTC for around $13.6 million.
In conclusion, MicroStrategy's strategy in managing its Bitcoin portfolio remains steadfast, focusing on acquisition and retention of assets, as evidenced by their recent actions and the statements from their co-founder.
