Michael Saylor swiftly refuted claims that Strategy Inc., formerly MicroStrategy, had secretly sold tens of thousands of Bitcoin amid this week’s market downturn. The rumors arose after analysis from Arkham Intelligence revealed a significant drop in Strategy’s wallet balance, sparking speculation about a large-scale liquidation. However, Arkham clarified that the movements were part of a routine custodian rotation rather than any Bitcoin sales. 43,415 BTC worth $4.26 billion were transferred from Coinbase Custody to a new service provider over the course of the past two weeks, as reported by Arkham data. This activity included direct transfers, internal transfers within the new custodian’s wallet cluster and routine Coinbase wallet refreshes. Despite the transfers, market panic spread quickly as automated trading systems identified them in volatile conditions. 487 BTC were added to Strategy’s portfolio this week. This move was reflected in their SEC filings, where Strategy purchased 487 BTC worth $49.9 million at an average price of $102,557 between November 3 and November 9. Saylor’s denial was followed by confirmation that Strategy will be reporting its next purchases on Monday morning, hinting at a further accumulation plan with potentially surprising results. The company’s total holdings remain unchanged from prior disclosures. Strategy’s mNAV has fallen below 1 to 0.99 signaling investor concern regarding leveraged Bitcoin exposure. This shift reflects the market’s overall cooling on corporate digital-asset treasuries. Although this creates pressure on the company, analysts believe Strategy doesn’t need to sell Bitcoin until at least 2027.