Lookonchain: Strategy-Linked Wallet Moves 1,030 BTC as Fourth Sale Looms

Another Tranche on the Move

Onchain analytics platform Lookonchain flagged the transfer, asking whether Michael Saylor’s Strategy is “dumping BTC again” after wallets linked to the company sent out 1,030 BTC worth approximately $66.14 million. Other trackers echoed the report, noting the coins left the suspected Strategy addresses roughly two hours before its post.

It also bears mentioning that late last month, onchain sleuths spotted a 299.84 BTC transfer out of a Strategy-linked wallet, as sale speculation swirled and MSTR shares dipped on the rumor. Days later, the company disclosed it had sold 1,638 BTC for approximately $104.7 million between July 27 and Aug. 2 at an average price of $63,957 per coin (marking its third bitcoin sale of 2026).

That disclosure left Strategy holding 842,138 BTC, worth about $52.6 billion with bitcoin trading near $64,000. The stack still represents roughly 4% of the 21 million coins that will ever exist, and remains by far the largest corporate bitcoin treasury in the world.

Selling to Service the Balance Sheet

According to the company, proceeds from the recent sales were used “to fund payment of distributions on preferred stock and to fund repurchases of STRC,” Strategy’s preferred shares. The disposals fall under the firm’s expanded bitcoin monetization program, part of its Digital Credit Capital Framework, which authorizes up to $5 billion in bitcoin sales.

The shift marks a sharp reversal for a company that spent more than five years as bitcoin’s most aggressive corporate accumulator, and whose executive chairman repeatedly vowed the firm would never sell. Strategy acquired its coins at an average price of $75,419 (a total cost of roughly $63.5 billion), leaving the position sitting on paper losses of nearly $10.9 billion at current prices.

Saylor, for his part, has continued posting bullish bitcoin content to his millions of followers.

What to Watch Next

Wednesday’s 1,030 BTC movement has not been confirmed as a sale. Still, the last two rounds of wallet activity were followed by confirmed disposals within days, and traders will be closely watching this move as well.

The market backdrop makes the flows hard to ignore given that bitcoin touched $64,360 on Monday before stalling, and analysts at Bitfinex have warned of downside risks if momentum fades. Every confirmed tranche of Strategy selling adds supply to a tape that is already struggling to hold the $64,000 level, and the July sale was executed at an average price below the company’s own cost basis.

The bigger question is how far the selling goes. With $5 billion authorized under the monetization framework and only about $105 million sold in the latest round, Strategy has plenty of room left. For a market that spent years treating the company’s relentless buying as a structural bid, each new wallet alert is a reminder that the flow now runs in both directions.