Key Takeaways:
Arkham Intelligence has attributed $7.6 billion in Bitcoin, equating to 70,816 BTC, to Strategy, the entity formerly known as MicroStrategy. This connection has raised the company’s total identified Bitcoin holdings to an impressive $54.5 billion.
This revelation stands in stark contrast to the caution expressed by Michael Saylor, co-founder and executive chairman of Strategy, regarding the potential risks of publicly disclosing wallet addresses. In a recent statement, Saylor warned of security vulnerabilities that can arise from such transparency.
“Saylor has consistently maintained that he would never disclose his wallet addresses. In turn, we took the step to unveil them,” Arkham remarked.
Strategy’s Bitcoin Holdings Now Estimated at $54.5B, According to Arkham
If Arkham’s data holds true, this latest information increases Strategy’s total Bitcoin reserves to $54.5 billion, signifying approximately 87.5% of all the firm’s BTC assets, as per the analysis provided by Arkham.
These findings contradict Saylor’s earlier warnings at the Bitcoin 2025 conference in Las Vegas, where he expressed concerns about the public sharing of wallet addresses.
“No institutional-grade or enterprise security analyst would advocate for the publication of wallet addresses, which could lead to being tracked back and forth,” Saylor stated. He highlighted the long-term vulnerabilities that such visibility creates, including transaction tracing and predictive behavioral analytics.
Additionally, Saylor suggested leveraging artificial intelligence to model potential attack scenarios, indicating that mere exposure of wallet addresses could lead to “50 pages” of outlined risks.
Previously, we tagged:
– 107K BTC sent to MSTR Fidelity deposits (Fidelity does not segregate custody, so these BTC do not appear in the MSTR entity)
– Over 327K BTC held in segregated custody including Coinbase Prime, in our MSTR entity. pic.twitter.com/MNJ56fnB4A
— Arkham (@arkham) May 28, 2025
While the blockchain inherently provides public records, identifying the actual owner of a given address often remains uncertain.
The timing of Arkham’s revelations is significant, as the company faces increased scrutiny over its methods for labeling wallets, with previous accusations of misidentification being raised by Mantra CEO John Mullin, who refuted Arkham’s claims during the token’s downturn.
Strategy Gradually Reduces Bitcoin Acquisitions as MSTR Premium Dwindles
Subsequent reports from K33 Research indicate that Strategy is moderating its Bitcoin purchasing activity. Although the firm, under Saylor’s leadership, continues to be the largest publicly traded Bitcoin holder, recent acquisition rates have significantly slowed compared to the intense buying spree recorded in November.
In its latest disclosures, Strategy revealed that it acquired 4,020 BTC between May 19 and May 25 for around $427.1 million, financed through its ongoing $21 billion at-the-market (ATM) offering.
However, the capital generated from this initiative has diminished, with only $348.7 million deployed during the reported week, a notable drop from $705.7 million the previous week and $1.31 billion at the start of May.
K33’s Head of Research, Vetle Lunde, attributes this slowdown to two principal factors: a declining premium on MSTR shares relative to the firm’s Bitcoin holdings, coupled with increasing competition as more companies enter the Bitcoin treasury market.
Simultaneously, Jeff Walton, an analyst at Strategy, has expressed optimism that the firm could one day emerge as the top publicly traded company globally. Walton believes that the unique exposure to Bitcoin, which has recently surpassed $111,000, positions the company favorably in the market.
The post Arkham Traces $7.6B in Bitcoin to Strategy Despite Saylor’s Privacy Stance appeared first on Finance Newso.
