Michael Saylor’s Strategy, formerly known as MicroStrategy, has moved more than 411 Bitcoin to Coinbase Prime, marking the company’s first known direct transfer to a crypto exchange in nearly two years.
On-chain data from Arkham Intelligence and Lookonchain showed two separate transfers totalling 411.48 BTC, worth around $30.3 million at current prices. The transactions included transfers of 205.3 BTC and 206.2 BTC, alongside a small test transaction before the funds were sent to Coinbase Prime.
Is Michael Saylor’s @Strategy about to sell $BTC?#Strategy just deposited 411.48 $BTC($30.3M) into #CoinbasePrime.
On Polymarket, the odds of #MicroStrategy selling $BTC before Dec. 31, 2026 have now reached 84%.https://t.co/FgZG2ZWlVi pic.twitter.com/R3Tm8YJJFu
— Lookonchain (@lookonchain) May 29, 2026
Strategy signals possible Bitcoin sales
The transfer comes weeks after Saylor revealed during the company’s first-quarter earnings call that Strategy could sell part of its Bitcoin holdings to support dividend payments. The statement surprised some investors, as the company had long promoted a strict strategy of holding Bitcoin without selling.
Despite the recent transfer, Strategy executives continue to stress that Bitcoin remains central to the company’s plans. CEO Phong Le said the firm still intends to increase its Bitcoin per share over time and continue buying BTC in the future.
The company recently used cash reserves to repurchase $1.5 billion worth of convertible senior notes due in 2029. While the move reduced total debt from $8.2 billion to $6.7 billion, it also lowered cash reserves to about $871 million.
MSTR stock extends sharp decline
Strategy’s stock, trading under the ticker MSTR, has faced heavy pressure in recent weeks. Shares closed 1.66% lower on Thursday at $151.64 after trading between $144.30 and $153.64 during the session.
The stock has fallen more than 22% since May 11, wiping out most of its earlier gains. Recent insider sales by company executives and a pause in Bitcoin accumulation have added to investor concerns.
Bitcoin price struggles as market weakens
Bitcoin briefly dropped below $73,000 as selling pressure spread across the crypto market, according to CoinMarketCap data. BTC was trading near $73,312 at the time of reporting, moving within a 24-hour range of $72,493 to $73,834.
Market activity also slowed, with trading volume falling 16% over the past day. Data from CoinGlass showed Bitcoin futures open interest declined by more than 1%, while CME futures activity dropped sharply. Binance, however, recorded a small rise in futures interest as some traders continued buying the dip.
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