Report have shown that 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.
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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.
Report from Crypto.news shows that 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 company’s 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.
Although The transfer comes weeks after Strategy executives acknowledged that Bitcoin sales could become part of the company’s financing strategy under certain circumstances.
during Strategy’s first quarter earnings call, executive chairman Michael Saylor said the company may sell some Bitcoin to help fund dividend obligations. The comments attracted attention because they contrasted with the company’s long-standing reputation for holding Bitcoin indefinitely.
Recent company disclosures showed Strategy has been focused on debt management. Earlier reports noted that the company moved to repurchase nearly $1.5 billion in face value of its 0% convertible senior notes due in 2029 for about $1.38 billion in cash.
Company filings stated that funding for the repurchase could come from cash reserves, proceeds from at-the-market stock sales, and potential Bitcoin sales.
During an interview on May 25, Saylor said it was “not unlikely” that Strategy could sell some Bitcoin before the end of 2026. He argued that a flexible approach using cash, equity, credit, and Bitcoin produced better results than relying on a single funding source.
At the same time, Saylor maintained that the company’s long-term objective remains increasing Bitcoin per share through 2033. He also said any future Bitcoin sale would represent a capital allocation decision rather than a change in Strategy’s view of the asset.
Strategy pauses buying as MSTR extends decline
Alongside the debt repurchase effort, Strategy recently halted its regular Bitcoin accumulation. Lookonchain reported that the company purchased no Bitcoin between May 18 and May 24, ending a period of consistent acquisitions.
