It has been confirmed that the current allegations that Michael Saylor’s firm Technique (previously MicroStrategy) offered Bitcoin (BTC) are false.
Up to date on-chain information supplied by Arkham revealed that the transactions in query weren’t gross sales, however transfers between storage suppliers.
Over the previous two months, the corporate has diversified its custody companies away from Coinbase, transferring a complete of 58,390 BTC (roughly $5.1 billion) to Constancy Custody. Constancy’s omnibus custody mannequin is the foundation reason for this confusion: As a result of all shopper belongings are held in the identical pockets, Technique’s Bitcoin holdings seem like commingled with different purchasers’ holdings.
For that reason, some Bitcoin beforehand listed underneath the Technique label on Arkham at the moment are listed as Constancy Custody belongings. Whereas this may increasingly seem like a sale, your entire motion stems from a change in in-house custody supplier.
In keeping with Arkham information, when transfers to Constancy are included, the platform can monitor roughly 92% of Technique’s Bitcoin holdings. The corporate’s complete Bitcoin holdings stand at 641,692 BTC (roughly $56.14 billion), of which 165,709 BTC (roughly $14.5 billion) have been despatched to Constancy Custody.
*This isn’t funding recommendation.
