Speculation regarding MicroStrategy’s Bitcoin holdings sparked a market frenzy, with rumors alleging a $4 billion sale. However, investigations by on-chain data and statements from Michael Saylor have confirmed the claims to be false. Blockchain analysis by Arkham Intelligence revealed that the company transferred assets worth approximately $4.26 billion, but this wasn’t related to a sale as initially speculated. The transfers were part of a broader process involving wallet rotation at Strategy, a long-standing custodian change. 3 possible reasons for the recent transfer activity have been identified: direct transfers from Coinbase Custody to a new custodian, internal transfers between custodians, and routine wallet refresh operations by Coinbase. None of these indicate a sale. Experts emphasize that large institutional Bitcoin holders regularly conduct these transactions due to security and operational requirements. This information should not be considered as investment advice.