Blockchain analytics company Arkham Intelligence has alleged discovering previously unknown wallet addresses associated with investment firm Strategy (formerly MicroStrategy), potentially exposing billions of dollars in Bitcoin holdings. The claim follows Strategy co-founder and executive chairman Michael Saylor’s long-standing commitment to privacy. Arkham asserts that it identified an additional 70,816 BTC belonging to the company, worth approximately $7.6 billion based on current prices. If confirmed, this would bring Strategy’s total Bitcoin holdings to $54.5 billion, according to Arkham Intelligence. This revelation suggests that Arkham has mapped out most of the company’s Bitcoin stash, marking it as the first entity to publicly link these wallets to the firm. “Saylor said he would never reveal his addresses. So, we did,” Arkham wrote, adding that the figure represents 87.5% of Strategy’s total Bitcoin holdings. Cointelegraph reached out to both Arkham and Strategy for comment but received no response by publication time. The accusations from Arkham follow comments made by Saylor at the Bitcoin 2025 conference in Las Vegas. Saylor stated that publishing wallet addresses poses risks, especially for companies holding Bitcoin. “No institutional-grade or enterprise security analyst would think it’s a good idea to publish all of the wallet addresses such that you can be traced back and forth,” he explained. Saylor elaborated that making wallets public exposes companies to unforeseen risks that may not become evident immediately. He provided an example using AI to explore this issue, suggesting that if users ask their AI about security problems related to publishing wallet addresses, the response might be as long as 50 pages. Arkham Intelligence has previously been accused of mislabeling wallets in a controversial incident surrounding the Mantra token collapse. However, their claims have not been publicly confirmed. The transparency of blockchain data is widely available, but concerns about the accuracy of claims regarding wallet ownership persist.