Arkham Identifies Another 70,000 Strategy BTC

Arkham has identified another 70,816 BTC on-chain belonging to Strategy (formerly MicroStrategy), bringing the total identified BTC under Strategy to 507K or $54.5B worth. As of May 26th, Strategy has a reported total holding of 580K BTC under their custody. As such, this brings the identified amounts to approximately 87.5% of Strategy’s holdings.

This ongoing analysis underscores the sheer scale of Strategy's commitment to Bitcoin as a primary treasury asset. Identifying such large, concentrated holdings on-chain provides a clearer picture of the digital asset landscape and corporate adoption.

107K BTC of this 507K BTC identified was previously sent from Strategy’s addresses to Fidelity Custody, which does not segregate its holdings. As such, this BTC is not reflected on Arkham under the Strategy entity. The remaining 400,398 BTC remains in segregated custody solutions, including Coinbase Prime.

The distinction in custody types is crucial for on-chain tracking. Segregated custody means assets are kept in unique, separate wallets, making them easier to identify. Non-segregated solutions, in contrast, may co-mingle assets, which complicates the process of attributing specific coins to a single entity.

This latest identification further closes the gap between the firm's publicly reported figures and what can be verified through distributed ledger analysis, increasing overall market transparency.