Key Takeaways
- Strategy moved $5.7 billion in Bitcoin to new wallets.
- Analysts view the transfer as part of a custody restructuring effort.
Strategy, a business intelligence company leveraging preferred stock structures to enhance Bitcoin adoption for risk-averse investors, transferred $5.7 billion in Bitcoin to the new wallets, according to data tracked by Lookonchain.
Analysts have interpreted Strategy’s large-scale Bitcoin transfers as part of a custody reshuffle rather than a signal of selling.
Strategy has been positioning itself to strengthen Bitcoin acquisition through improved credit ratings and institutional channels. Following last week’s acquisitions, the company now holds 641,692 Bitcoin worth over $62 billion.
Source: https://cryptobriefing.com/strategy-bitcoin-custody-transfer/