Strategy Wallet Moves 1,030 BTC After $105M Sale Update

Wallet Transfer Flags Questions but Sale Not Confirmed

A wallet identified by on-chain analytics firm Lookonchain as linked to Strategy reportedly moved 1,030 BTC (about $66.14 million) on Aug. 5. The on-chain transfer came two days after Strategy publicly disclosed a separate sale of 1,638 BTC that raised $104.73 million. While the blockchain movement is real, Strategy has not officially confirmed that the 1,030 BTC transfer represented a sale.

On-chain attribution vs. confirmed corporate sale

Lookonchain labeled the addresses as associated with Strategy, prompting headlines asking whether Michael Saylor’s company was resuming Bitcoin liquidation. On-chain wallet attribution can be persuasive, but it is not definitive evidence that ownership changed hands. Bitcoin often moves between custodians, internal wallets, trading accounts and settlement or exchange addresses without being sold. To confirm a sale, observers need corroborating evidence such as:

• An 8-K or other company disclosure explicitly reporting the sale.
• A visible deposit to an exchange followed by trading activity.
• Public statements from Strategy or its custodians confirming monetization.

Strategy’s most recent SEC filing, which used an Aug. 2 reporting cutoff, still lists 842,138 BTC. That figure had not been lowered in a later filing at the time of reporting, so the 1,030 BTC transfer could represent an intra-company custody move or a monetization event that will show up in a subsequent update.

Context: Strategy’s recent monetization and treasury policy

Strategy confirmed it sold 1,638 BTC between July 27 and Aug. 2, netting $104.73 million after fees at an average sale price of $63,957 per BTC. Strategy allocated approximately $52.4 million of those proceeds to preferred stock dividends and the remaining $52.3 million to repurchases of STRC preferred shares. The company also repurchased 912,143 STRC preferred shares for $81.2 million during the same reporting period.

Under the Bitcoin monetization framework its board approved in June, Strategy can sell BTC to support a cash reserve, fund dividends or interest, and finance approved security repurchases. The policy does not mandate sales of any specific amount, but this new approach marks a clear shift from Strategy’s previous continuous accumulation stance.

Strategy’s remaining 842,138 BTC are recorded at an aggregate purchase price of $63.51 billion and an average cost basis of $75,419 per coin. The company also reported a $4 billion U.S. dollar reserve that included unsettled proceeds from equity sales.

Implications for the corporate treasury thesis

For markets and institutional investors, Strategy’s sales and on-chain transfers raise questions about the evolving corporate treasury thesis for Bitcoin. Strategy’s monetization program signals that some public crypto-native corporates are balancing BTC accumulation with active treasury management, including dividends and share repurchases financed by monetization.

However, the distinction between custodian transfers and sales remains crucial. Until Strategy files a Form 8-K or updates its public ledger dashboard to reflect a reduced BTC balance, analysts and traders should treat the 1,030 BTC movement as an unconfirmed transfer rather than a confirmed sale.

MARA transfers 6,000 BTC to Two Prime: sale or asset management?

Separately, Lookonchain flagged a transfer of 6,000 BTC from Marathon Digital Holdings (MARA) to addresses identified as belonging to Two Prime, an institutional asset manager. At the time, that amount was worth roughly $384.6 million. Like the Strategy transfer, the MARA movement was not an automatic indicator of a sale. Two Prime provides institutional trading, lending and Bitcoin yield strategies, and MARA has an established relationship with the firm.

In 2025 MARA led a $20 million investment in Two Prime and expanded a managed allocation from 500 BTC to 2,000 BTC. An SEC filing showed MARA moved 2,000 BTC into a separately managed account in 2025; that account held 1,903 BTC by Sept. 30 after recording a net trading loss. The recent 6,000 BTC transfer could be an expanded managed arrangement, a custody shift, or part of another corporate financing action. MARA’s public disclosures and subsequent SEC filings will be the definitive source to determine whether those BTC remain company assets or were monetized.

Strategy shares price chart

Why filings and dashboards matter

Both Strategy and MARA have said they will disclose material monetization events via Form 8-Ks and public dashboards. These official reports matter because they explain intent and legal ownership in ways that on-chain analysis alone cannot. On-chain analytics tools like Lookonchain are invaluable for spotting movements quickly, but corporate treasuries, custodians and exchanges can move Bitcoin for operational reasons that do not reflect sales. For investors and analysts focused on corporate Bitcoin exposure, the checklist to confirm a sale includes public filings, exchange order flow, and statements from the companies or custodians involved.

Market reaction and next steps

At the time of reporting, BTC traded near $64,387, up about 0.95%. Strategy shares rose roughly 2.9% to $97.65 during the U.S. session, while MARA shares were nearly flat at $11.75. Market data showed no immediate, broad sell-off tied to the reported transfers.

Analysts will watch Strategy’s next dashboard update or an 8-K filing to see whether the 1,030 BTC movement is reflected in its public holdings. MARA investors will similarly await an SEC filing or a corporate statement to determine whether the 6,000 BTC remains on balance sheet or has been monetized under a managed arrangement.

Until those disclosures arrive, the most prudent interpretation is that both on-chain events are transfers with multiple possible explanations. Confirming a sale requires documentation that establishes a change in legal ownership or clear exchange selling activity.

Bottom line

On-chain analytics have raised alarms about fresh corporate Bitcoin movement, but transfers attributed to Strategy and MARA should not automatically be treated as sales. Investors should track official disclosures, SEC filings and exchange activity for confirmation. These events underscore the importance of distinguishing custodial or operational transfers from monetization when evaluating corporate Bitcoin positions and the broader implications for institutional adoption and treasury strategy.