Strategy transfers 411.48 BTC to Prime sparking speculation

Strategy, the world's largest corporate holder of Bitcoin, transferred 411.48 BTC worth approximately $30.3 million to the institutional platform Coinbase Prime on May 29, according to on-chain tracking data. The move has sparked intense market speculation about whether the company, led by Executive Chairman Michael Saylor, may be preparing to sell part of its massive Bitcoin treasury for the first time.

The transfer, flagged by blockchain analysts, represents the company's first direct deposit to an exchange-linked platform in nearly two years. While a deposit alone does not confirm a sale—as institutions use such platforms for custody, collateral, or over-the-counter trading—the timing has heightened scrutiny. It coincides with a period of declining Bitcoin prices and shifting rhetoric from the company's leadership regarding its long-held "never sell" stance.

Market sentiment shifted rapidly on prediction platforms. On Polymarket, the probability that Strategy will sell some Bitcoin before December 31, 2026, surged to between 84% and 91%, with tens of millions of dollars wagered on the outcome. This reflects a significant change in expectations among traders.