MicroStrategy makes ‘weird’ 7,382-BTC withdrawal hours before new bitcoin buy
MicroStrategy (MSTR) investors flagged a curiously timed bitcoin (BTC) withdrawal right before the company’s founder, Michael Saylor, announced a $531.9 million purchase this morning. They asked why the company seemingly created three brand new wallets and withdrew 7,382 BTC mere hours before announcing its acquisition of 4,980 BTC. The timing and the amounts seemed “too weird.” The data comes from Arkham, which compiles wallets and assets that might be under MicroStrategy’s control. However, none of the wallets or their movements are officially confirmed by any proof of reserves. To be clear, MicroStrategy does not officially disclose its wallets . Nevertheless, one observer speculated that the company’s dividend-yielding preferred stocks could provide a rational explanation for yesterday’s on-chain movements. Bitcoin Outflow from Saylor—$796M Transferred Before Monday Buy! Michael Saylor’s Strategy just sent out nearly $800M in $BTC to 3 new wallets on...