The move involves 411.5 bitcoin (BTC), valued at $30.2 million.
There is no official confirmation of sale from Strategy.
Strategy, the firm founded by Michael Saylor, withdrew a total of 411.5 units of the asset from Coinbase Prime (Coinbase’s institutional service) on May 29 to an address attributed to the company itself.
The movement occurred just hours after those same funds were sent to the exchange, an operation that had sparked speculation about a possible sale of BTC by the firm, as reported by CriptoNoticias.
According to the records from Arkham Intelligence, On May 28, Strategy transferred approximately 205 BTC and 206 BTC to Coinbase Prime deposit addresses.
However, on May 29, those funds returned from Coinbase Prime to wallets identified as belonging to Strategy. The movements involved around $30.2 million at current market prices.
The following image shows the most recent transfers recorded between the mentioned addresses:
Transfers made on May 28 from Strategy to Coinbase Prime appear in red. In green are the operations of May 29, when practically the same funds returned to addresses linked to the company.
The sequence is relevant because it occurs in a moment where the market closely follows any BTC movement made by Strategy.
Concern arose in early May, when the company acknowledged during the presentation of first quarter financial results, held on May 5, 2026, that it could sell BTC to meet certain financial obligations or execute corporate strategies.
Among these obligations is STRC, a preferred share issued by the company chaired by Michael Saylor. It should be noted that preferred shares are financial instruments whose holders have priority in collecting dividends over common shareholders. In certain cases, The company may need liquidity to meet these payments or implement other operations linked to its capital structure.
Strategy also mentioned the possibility of using resources to repurchase debt or other financial obligations, which opened the debate on an eventual partial sale of its bitcoin reserves.
Despite speculation, the truth is that there is no official confirmation that the company has sold BTC.
The movements could simply respond to custody tasks, internal reorganization of wallets or operational procedures that do not necessarily involve a sale of assets.
If Strategy decided to sell BTC, the market would likely learn about it through public communications from the company or through future filings with the SEC, documents that are publicly accessible.
Any transfers made by Strategy usually attract market attention due to the size of its holdings. At the moment, the company has 843,738 BTCa position valued at around $62 billion with BTC trading near $73,490.
A sale by Strategy would not only have an impact due to the potential volume. It could also affect the perception of other corporate BTC treasuries, especially those that do not have the same financial muscle to endure sharp falls in price without being forced to part with part of their reserves.
Meanwhile, the accumulation strategy defended by Michael Saylor officially remains in force.