Michael Saylor Criticizes Bitcoin Wallet Disclosure
Michael Saylor, the founder of Strategy (formerly known as MicroStrategy), has criticized the disclosure of the company’s bitcoin wallet addresses. He labeled this move as an unwise decision.
Arkham Intelligence’s Tracking Findings
In a controversial turn of events, Arkham Intelligence, a blockchain analytics firm, claims to have successfully tracked a substantial portion of Strategy’s bitcoin reserves. Their investigation reveals that they have pinpointed approximately 87.5% of the company’s holdings on the blockchain, amounting to an additional 70,816 BTC linked to the firm.
Revelations at Bitcoin 2025 Conference
The revelations emerged during the Bitcoin 2025 conference in Las Vegas. Arkham announced their findings on X (formerly Twitter), stating:
“We have identified an additional 70,816 BTC belonging to Strategy, leading to a total identification of 400,398 BTC within our records.”
This valuation of their holdings amounts to around $54.5 billion, emphasizing that this information is the first of its kind to be publicly disclosed.
Discrepancy in Reported Holdings
According to Arkham’s research, there exists a significant discrepancy between the reported and actual holdings of Strategy. The company had stated it owned 580,250 BTC as of May 19. Notably, Arkham specified that:
- 107,000 BTC of this total is held with Fidelity, utilizing non-segregated custody services.
- About 327,000 BTC is stored in segregated locations, including Coinbase Prime.
Insights on Blockchain Activity
Recent blockchain data has indicated that Coinbase Prime’s active hot wallet has been systematically transferring funds into Strategy’s bitcoin collection. This process began with initial small test transactions of 0.0001 BTC sent to various addresses before larger deposits were made.
A detailed analysis of Strategy’s digital assets indicates that their 400,398 BTC can be traced across 491 distinct wallet addresses, with Coinbase Prime, Anchorage Digital, and Fidelity Digital Assets being their primary counterparties.
