Strategy sends $30M in Bitcoin to Coinbase as MSTR stock slides
Bitcoin Strategy sends $30M in Bitcoin to Coinbase as MSTR stock slides Strategy has transferred more than 411 Bitcoin to Coinbase Prime, a move that has drawn attention after recent comments from company executives about potential BTC sales and a pause in fresh purchases.Strategy transferred 411.48 Bitcoin worth about $30.3 million to Coinbase Prime, according to Lookonchain data.The transfer comes after Michael Saylor said Strategy could sell some Bitcoin as part of its capital management strategy.MSTR stock has fallen nearly 22% since May 11 as the company paused Bitcoin purchases and focused on debt repurchases. According to blockchain analytics platform Lookonchain, Strategy sent 411.48 BTC worth about $30.3 million to Coinbase Prime on May 29. The tracker said the transfer appears to be the companys first direct Bitcoin movement to an exchange in nearly two years. Data from Arkham Intelligence showed two separate transactions of 205.3 BTC and 206.2 BTC before the funds arrived at Coinbase. Arkham data also recorded a smaller test transfer of 0.0241 BTC, valued at roughly $1,770. Transfers to Coinbase Prime. Source: Arkham. The transfer comes weeks after Strategy executives acknowledged that Bitcoin sales could become part of the companys financing strategy under certain circumstances. Bitcoin sales discussion follows debt repurchase plan Earlier this









