ForeDex_Proof

On-chain data cannot be manipulated.
“ForeDex” corrects misleading wallet activity and false narratives.
Official @ForeDex_Global

[ForeDex_Proof @ForeDex_Proof]

🔍 Spot Misinformation? Tag Us @ForeDex_Proof

If you come across information related to on-chain data that is unclear or potentially misleading, Where possible, we will review it and provide a clear, evidence-based explanation.

🏛 Building a Permanent Record of Truth

Due to the nature of the X platform, where information spreads quickly and is easily forgotten, "ForeDex" has built a dedicated community to address this limitation.
In this space, we systematically document misinformation related to on-chain data, and track and register recurring FUD patterns based on accounts that originally publish such information (excluding retweets).

🌱 Our Mission: A Healthy On-Chain Data Ecosystem
Our objective is solely to improve the on-chain ecosystem by identifying misinformation and providing factual clarity. This initiative is not intended to disparage or attack any specific individual. We focus strictly on the integrity of the data to build a more transparent market for everyone.

Disclaimer:
The information provided by @ForeDex_Proof is for informational purposes only and does not constitute financial, investment, or legal advice.
While we strive for accuracy based on on-chain data, ForeDex is not responsible for any investment decisions or outcomes based on this information.

[ForeDex_Proof @ForeDex_Proof]

@huoshan007 https://t.co/CPKwXBoHRk

这并不是中本聪巨鲸钱包。不要被这种毫无根据的 FUD 所欺骗。

[ForeDex_Proof @ForeDex_Proof]

[🔍 ForeDex Proof: Fake “Satoshi Whale” Label]
✅ Proof → This is not a Satoshi-era whale wallet.

Wallet Address:
bc1pgrugrs3twnfvdd54dn06c89pq4642dnqutm3dpyyufq5zddlxv3q2lupuv

This wallet was created just 3 days ago and moved again 2 days ago.

In other words, it is not a wallet that has remained dormant for years or decades, as would be expected from a genuine Satoshi-era wallet

ForeDex_Proof will continue tracking and documenting misleading on-chain narratives and FUD using verifiable blockchain data.

[ForeDex_Proof @ForeDex_Proof]

[🔍 ForeDex Proof: Fake “Satoshi Whale” Label]
✅ Proof → This is not a Satoshi-era whale wallet.

Wallet Address:
bc1pgrugrs3twnfvdd54dn06c89pq4642dnqutm3dpyyufq5zddlxv3q2lupuv

This wallet was created just 3 days ago and moved again 2 days ago.

In other words, it is not a wallet that has remained dormant for years or decades, as would be expected from a genuine Satoshi-era wallet

ForeDex_Proof will continue tracking and documenting misleading on-chain narratives and FUD using verifiable blockchain data.

[0xNobler @CryptoNobler]

🚨 BREAKING

SATOSHI ERA WHALE JUST DUMPED $350,000,000.00 $BTC AFTER 16 YEARS OF HODLING.

HE SURVIVED THE MT. GOX HACK, COVID CRASH, LUNA & FTX COLLAPSES, BUT SOLD ALL HIS BITCOIN TODAY.

LOOKS LIKE HE KNOWS EVEN MORE BAD NEWS IS COMING SOON...

[ForeDex_Proof @ForeDex_Proof]

📌 ForeDex Fact: Mt. Gox Repayment Activity Resumes

Two days ago, Bitcoin was transferred from Mt. Gox wallets into two newly created wallets.

Wallet A: 116 BTC
Wallet B: 10,423 BTC
Today, the 116 BTC was confirmed to have moved to Bitstamp.

The fact that Mt. Gox appears to have resumed parts of its repayment process is noteworthy on its own.

However, the more important point is this:

If the Wallet A(116 BTC) was transferred for repayment purposes, then the Wallet B(10,423 BTC) that was moved at the same time is now more likely to have been transferred for the same purpose.

This would also increase the probability that the larger amount could eventually be sent to an exchange as part of the repayment process.

For that reason, the wallet holding the 10,423 BTC is now the one that deserves the closest attention.

[ForeDex_Proof @ForeDex_Proof]

10,423 BTC has just moved from Mt. Gox-associated wallets.

Of that amount, 10,306 BTC was transferred to a newly created wallet.

Mt. Gox-related wallets still hold approximately 34,000 BTC, and the repayment process has not yet been fully completed.

For that reason, the Bitcoin transferred to the new wallet should continue to be monitored closely.

[ForeDex_Proof @ForeDex_Proof]

[🔍 ForeDex Proof: Strategy (MSTR) Sold Bitcoin]

✅ Proof → We reviewed Strategy's official Form 8-K filing to verify the reports currently circulating.

Yes, Strategy (MSTR) did sell Bitcoin.

According to the filing:

BTC Sold: 32

A total of 32 BTC was sold between May 26 and May 31, 2026.

This was an actual sale, and an OTC transaction took place.

Official Filing:

https://t.co/ZSuhzT9sQ5

[ForeDex_Proof @ForeDex_Proof]

📌 ForeDex Fact: Did Strategy (MSTR) Sell Bitcoin?

Based on the currently observable on-chain data, this movement appears to differ from Strategy’s typical wallet migration pattern.

Therefore, while it is not possible to conclude that this was an actual sale at this stage, the possibility that these transfers were related to an OTC transaction also cannot be ruled out.

Fact 1.
Several reposts claim that Bitcoin was transferred from a Strategy (MSTR) wallet directly to a Coinbase Prime wallet.
However, the destination address has not yet been officially labeled by Arkham.
In other words, the address currently being presented as "Coinbase Prime" may simply be a user-created label rather than an officially verified attribution.

Fact 2.
Strategy (MSTR) has previously sold approximately 700 BTC in December 2024 for tax-loss harvesting purposes.
This was not due to operational stress or financial difficulties.
Therefore, the claim that Strategy has never sold Bitcoin under any circumstances is not accurate.

Fact 3.
Strategy (MSTR) regularly performs internal wallet reorganizations, typically on a monthly basis.
These wallet migrations often generate large withdrawal transactions and involve moving funds into newly created addresses.
Because of this, similar selling rumors have surfaced multiple times in the past, but were later identified as internal wallet movements.

Observation 1.
However, the transaction observed approximately three hours ago differs from the pattern typically seen in previous Strategy wallet migrations.

Historically, movements have generally followed:

✅MSTR Wallet → New Wallet

and stopped there.

This time, Bitcoin was moved from two MSTR-associated wallets into new wallets, and then transferred once again.
This additional step is what makes the current movement different from prior patterns.

Observation 2.
Strategy currently uses Coinbase Custody and has historically relied on Native SegWit addresses beginning with:

✅bc1q...

However, the address involved in this transaction begins with:

✅3...

which is a P2SH address.

This also differs from the wallet structure commonly observed in previous Strategy-related transfers.

Observation 3.
This is the most significant observation.
After the initial transfer, the Bitcoin was moved again into two additional wallets.

Based on currently available information, these addresses appear to be associated with wallets used by Coinbase Prime for OTC-related activity.

If this attribution is correct, the movement of approximately 411 BTC could potentially be related to an OTC transaction.

Variable
That said, this conclusion cannot be treated as definitive.
Strategy frequently creates new wallets, and Arkham is known to rely on AI-assisted attribution methods in some cases.
As a result, there is still a possibility that the current wallet attribution is incorrect.
If that is the case, the addresses in question may not be related to Strategy (MSTR) at all.

Current Conclusion

Based solely on the information currently available, this movement differs from Strategy’s typical internal wallet migration pattern.

If the current wallet attribution proves to be correct, an OTC-related transaction is a reasonable possibility.

However, at this stage, there is not enough evidence to confirm that any sale has actually occurred.

⚠️ Disclaimer

This post is based exclusively on publicly observable on-chain data and is provided for informational and analytical purposes only.

The actual purpose of these transactions cannot be confirmed without an official statement from Strategy (MSTR) or the relevant parties involved.

Accordingly, nothing in this post should be interpreted as a confirmed fact, investment advice, or a definitive statement regarding the intent behind these transactions.

All conclusions presented here represent observations and interpretations based on currently available on-chain information.

[ForeDex_Proof @ForeDex_Proof]

https://t.co/8YpxdNhlmN

[ForeDex_Proof @ForeDex_Proof]

📌 ForeDex Fact: Strategy (MSTR) Bitcoin Movement Update

Based on the additional transfer activity observed so far, this movement currently appears more consistent with an internal wallet transfer.

The primary reason this transaction attracted attention was the following flow:

✅MSTR Wallet → New Wallet → Coinbase Prime OTC-related Wallet

However, approximately 20 minutes later, nearly the same amount of Bitcoin was observed moving back:

✅Coinbase Prime Hot Wallet → Existing Strategy Wallet

If this had been a completed OTC sale, it would be difficult to explain why the same amount of Bitcoin returned to Strategy-associated wallets within such a short period of time.

As a result, the two most reasonable interpretations at this stage are:

✅An internal wallet transfer related to security or custody management.

✅A preparation or testing process for a potential future OTC transaction.

That said, this movement was also different from Strategy's typical internal wallet migration pattern observed in the past.

Most notably, an address believed to be associated with Coinbase Prime appeared in the transfer path, and the overall transaction flow was more complex than the simple wallet reorganizations previously observed.

For that reason, the possibility that this was preparation or testing for a future OTC transaction cannot be completely ruled out.

The important point is that Strategy's wallet activity should continue to be monitored closely.

If no further related movements occur, this may ultimately be viewed as a routine internal transfer.

However, if similar patterns reappear or additional follow-up transactions are observed, alternative interpretations may become more relevant.

⚠️ Disclaimer
Based on the on-chain information currently available, this movement appears more likely to be an internal wallet transfer or a testing-related transaction.

However, the exact purpose of these transfers cannot be confirmed without an official statement from Strategy (MSTR) or further verification from Arkham.

Accordingly, this post is intended solely as an analysis of publicly observable on-chain activity, and interpretations may change as new information becomes available.

Nothing in this post should be interpreted as investment advice, financial advice, or a recommendation to buy, sell, or hold any asset.

ForeDex assumes no responsibility for any investment decisions made based on this analysis. Readers should conduct their own research and make independent decisions based on their individual circumstances.

[ForeDex_Proof @ForeDex_Proof]

Yes, Arkham has also acknowledged that this movement was different from Strategy’s typical wallet transfer pattern.

As mentioned before, Strategy (MSTR) generally moves Bitcoin to newly created wallets roughly once per month for security and wallet management purposes.

However, this movement was clearly different from the pattern that has been repeatedly observed in the past.

Ultimately, the Bitcoin that was withdrawn was later transferred back to Strategy-associated wallets.

At this stage, the most reasonable explanation appears to be that the transfer was related to preparation or testing for a potential OTC transaction.

In other words, if this was indeed a test, it would suggest that there is at least an intention or readiness to conduct an actual transaction in the future.

That is why the key takeaway is not the transfer itself, but the need to continue monitoring Strategy’s wallet activity very closely going forward.

[Arkham @arkham]

Why did he bet so much on Strategy selling?

Last Friday, Strategy deposited BTC to Coinbase Prime - it was the first time ever any of their tagged wallets had done this.

[ForeDex_Proof @ForeDex_Proof]

Yes, today an actual Satoshi-era wallet moved 20 BTC.

This is what a real Satoshi-era wallet movement looks like.

As always, there will likely be plenty of misleading posts mixed in with the real information.

For reference, here is the address.

1CDSyXAQxro4FPUoqAQb81642ruqDsUiNp

When a large amount of Bitcoin moves from a wallet this old, significant changes appear across multiple on-chain metrics.

You cannot miss it.

That is why most posts claiming:
“Satoshi whale moved”
“Satoshi-era dump”
“Whale selling”

are often misleading, exaggerated, or completely false.

Let’s see how many misleading narratives appear today.

[ForeDex_Proof @ForeDex_Proof]

[🔍 ForeDex Proof: Fake “Satoshi Era Whale” Label]
✅ Proof → This is not a Satoshi-era whale dump. The label was manually created.

1. In general, the term “Satoshi-era whale” refers to an old Bitcoin wallet that remained inactive for more than 10 years before suddenly moving BTC.
However, the wallet used in this post did not move after 10+ years.
The actual on-chain record shows that the Bitcoin in this wallet moved approximately 1 year ago.

In other words, this is not a Satoshi-era whale wallet.

2. Compare the transaction shown in the video with the transaction provided by ForeDex_Proof.

They match 100%.

This means the exact same transaction was used, but presented under the label:

“SATOSHI ERA WHALE”

to create a completely different interpretation.

3. The manipulation method is extremely simple.
Arkham allows users to create custom labels for wallet addresses.
In other words, anyone can manually assign any label they want.

A wallet that is:
- 1 day old
- 1 year old
- 5 years old

can still be labeled as:

“SATOSHI ERA WHALE”
and then presented as if a long-dormant Satoshi-era whale suddenly dumped Bitcoin.

4. Here is the actual wallet address without the manipulated label:

bc1p8jprmnysc0ehemmaflkejrypwdkl7tylypehc5ep3dc33hgvmrcq33tghq

Verify it directly on-chain.

Blockchain records themselves cannot be manipulated.

This is exactly why on-chain verification matters.
The raw blockchain data does not lie.
But labels, screenshots, and narratives can easily be manipulated.

5. This is not simply a matter of interpretation.
It is a case of attaching a fabricated label to real on-chain data in order to manufacture fear.

If you see suspicious or misleading on-chain posts like this, tag @ForeDex_Proof immediately.

We will verify them using on-chain evidence.

🌱 Our Mission: A Healthy On-Chain Data Ecosystem

Our objective is solely to improve the on-chain ecosystem by identifying misinformation and providing factual clarity. This initiative is not intended to disparage or attack any specific individual. We focus strictly on the integrity of the data to build a more transparent market for everyone.

Disclaimer:

The information provided by @ForeDex_Proof
is for informational purposes only and does not constitute financial, investment, or legal advice. While we strive for accuracy based on on-chain data, ForeDex is not responsible for any investment decisions or outcomes based on this information.

[Smart Money Crypto @Smart_Money]

🚨 Strategy hat zum ersten Mal seit Dezember 2022 Bitcoin auf eine Börse geschoben.

411 #Bitcoin, rund 30 Mio. USD, Richtung Coinbase Prime.

@lookonchain hat den Transfer gemeldet, dazu die Polymarket-Wette auf einen Verkauf vor Jahresende, hochgesprungen auf 84 Prozent, und stellt selbst die Frage, ob Strategy kurz vor dem ersten Abverkauf steht.

CT war sofort da. @TedPillows greift es auf und fragt schlicht: "Hat der Verkauf begonnen?"

@marc02200 spottet über die Panik: "Wow, das ist also das Ende für Strategy. 411 BTC abladen, nachdem man über 800.000 gestackt hat. Offiziell vorbei, Jungs."

@ForeDex_Proof hält dagegen, und zwar mit Argumenten. Arkham hat die Ziel-Adresse noch gar nicht als Coinbase Prime bestätigt. Der Transfer weicht obendrein vom üblichen Wallet-Migrations-Muster ab. Für ihn ist genauso plausibel, dass hier ein OTC-Geschäft läuft, das den freien Markt gar nicht berührt.

Dann schau dir die Größe an. Strategy hält 843.738 BTC, gut 62 Mrd. USD. Diese 411 sind 0,048 Prozent davon. Wer 100.000 Euro hat, schiebt davon 48 Euro von einer Tasche in die andere.

Vom Unternehmen selbst kommt zum Transfer kein Wort. Saylor postet am Vortag über die neuen CFTC-Regeln, die Bitcoin als Collateral zulassen, sein CEO nennt die Lage öffentlich die Kauf-Gelegenheit.

Die Verkaufs-Wette steht trotzdem bei 84 Prozent, während Bitcoin bei $73.433 notiert.

Erster Börsen-Transfer seit dreieinhalb Jahren, ein halbes Promille der Holdings, ein Label, das noch keiner bestätigt hat. Wie liest du das?

[ForeDex_Proof @ForeDex_Proof]

The clearest takeaway is that this wallet movement appears to be different in nature from the previous internal wallet reallocations that were conducted primarily for security purposes.

Taking all available information into account, the likelihood of an actual sale appears to be low at this stage. Instead, this activity is more likely related to testing or preparatory procedures for a potential OTC transaction.

https://t.co/FEuWoQkO0q

[ForeDex_Proof @ForeDex_Proof]

📌 ForeDex Fact: Strategy (MSTR) Bitcoin Movement Update

Based on the additional transfer activity observed so far, this movement currently appears more consistent with an internal wallet transfer.

The primary reason this transaction attracted attention was the following flow:

✅MSTR Wallet → New Wallet → Coinbase Prime OTC-related Wallet

However, approximately 20 minutes later, nearly the same amount of Bitcoin was observed moving back:

✅Coinbase Prime Hot Wallet → Existing Strategy Wallet

If this had been a completed OTC sale, it would be difficult to explain why the same amount of Bitcoin returned to Strategy-associated wallets within such a short period of time.

As a result, the two most reasonable interpretations at this stage are:

✅An internal wallet transfer related to security or custody management.

✅A preparation or testing process for a potential future OTC transaction.

That said, this movement was also different from Strategy's typical internal wallet migration pattern observed in the past.

Most notably, an address believed to be associated with Coinbase Prime appeared in the transfer path, and the overall transaction flow was more complex than the simple wallet reorganizations previously observed.

For that reason, the possibility that this was preparation or testing for a future OTC transaction cannot be completely ruled out.

The important point is that Strategy's wallet activity should continue to be monitored closely.

If no further related movements occur, this may ultimately be viewed as a routine internal transfer.

However, if similar patterns reappear or additional follow-up transactions are observed, alternative interpretations may become more relevant.

⚠️ Disclaimer
Based on the on-chain information currently available, this movement appears more likely to be an internal wallet transfer or a testing-related transaction.

However, the exact purpose of these transfers cannot be confirmed without an official statement from Strategy (MSTR) or further verification from Arkham.

Accordingly, this post is intended solely as an analysis of publicly observable on-chain activity, and interpretations may change as new information becomes available.

Nothing in this post should be interpreted as investment advice, financial advice, or a recommendation to buy, sell, or hold any asset.

ForeDex assumes no responsibility for any investment decisions made based on this analysis. Readers should conduct their own research and make independent decisions based on their individual circumstances.

[ForeDex_Proof @ForeDex_Proof]

Yes, that's correct.

Based on the information currently available, this withdrawal does not appear to have been made for the purpose of selling.

However, this transaction is clearly different from Strategy's previous internal wallet transfers.

For that reason, the possibility that this was a test transaction related to an OTC deal cannot be ruled out and appears to be a reasonable scenario.

This is a development that deserves close attention going forward.

https://t.co/FEuWoQkO0q

[ForeDex_Proof @ForeDex_Proof]

📌 ForeDex Fact: Strategy (MSTR) Bitcoin Movement Update

Based on the additional transfer activity observed so far, this movement currently appears more consistent with an internal wallet transfer.

The primary reason this transaction attracted attention was the following flow:

✅MSTR Wallet → New Wallet → Coinbase Prime OTC-related Wallet

However, approximately 20 minutes later, nearly the same amount of Bitcoin was observed moving back:

✅Coinbase Prime Hot Wallet → Existing Strategy Wallet

If this had been a completed OTC sale, it would be difficult to explain why the same amount of Bitcoin returned to Strategy-associated wallets within such a short period of time.

As a result, the two most reasonable interpretations at this stage are:

✅An internal wallet transfer related to security or custody management.

✅A preparation or testing process for a potential future OTC transaction.

That said, this movement was also different from Strategy's typical internal wallet migration pattern observed in the past.

Most notably, an address believed to be associated with Coinbase Prime appeared in the transfer path, and the overall transaction flow was more complex than the simple wallet reorganizations previously observed.

For that reason, the possibility that this was preparation or testing for a future OTC transaction cannot be completely ruled out.

The important point is that Strategy's wallet activity should continue to be monitored closely.

If no further related movements occur, this may ultimately be viewed as a routine internal transfer.

However, if similar patterns reappear or additional follow-up transactions are observed, alternative interpretations may become more relevant.

⚠️ Disclaimer
Based on the on-chain information currently available, this movement appears more likely to be an internal wallet transfer or a testing-related transaction.

However, the exact purpose of these transfers cannot be confirmed without an official statement from Strategy (MSTR) or further verification from Arkham.

Accordingly, this post is intended solely as an analysis of publicly observable on-chain activity, and interpretations may change as new information becomes available.

Nothing in this post should be interpreted as investment advice, financial advice, or a recommendation to buy, sell, or hold any asset.

ForeDex assumes no responsibility for any investment decisions made based on this analysis. Readers should conduct their own research and make independent decisions based on their individual circumstances.

[ForeDex_Proof @ForeDex_Proof]

Yes, that's correct.

Based on the information currently available, this withdrawal does not appear to have been made for the purpose of selling.

However, this transaction is clearly different from Strategy's previous internal wallet transfers.

For that reason, the possibility that this was a test transaction related to an OTC deal cannot be ruled out and appears to be a reasonable scenario.

This is a development that deserves close attention going forward.

https://t.co/FEuWoQkO0q

[ForeDex_Proof @ForeDex_Proof]

📌 ForeDex Fact: Strategy (MSTR) Bitcoin Movement Update

Based on the additional transfer activity observed so far, this movement currently appears more consistent with an internal wallet transfer.

The primary reason this transaction attracted attention was the following flow:

✅MSTR Wallet → New Wallet → Coinbase Prime OTC-related Wallet

However, approximately 20 minutes later, nearly the same amount of Bitcoin was observed moving back:

✅Coinbase Prime Hot Wallet → Existing Strategy Wallet

If this had been a completed OTC sale, it would be difficult to explain why the same amount of Bitcoin returned to Strategy-associated wallets within such a short period of time.

As a result, the two most reasonable interpretations at this stage are:

✅An internal wallet transfer related to security or custody management.

✅A preparation or testing process for a potential future OTC transaction.

That said, this movement was also different from Strategy's typical internal wallet migration pattern observed in the past.

Most notably, an address believed to be associated with Coinbase Prime appeared in the transfer path, and the overall transaction flow was more complex than the simple wallet reorganizations previously observed.

For that reason, the possibility that this was preparation or testing for a future OTC transaction cannot be completely ruled out.

The important point is that Strategy's wallet activity should continue to be monitored closely.

If no further related movements occur, this may ultimately be viewed as a routine internal transfer.

However, if similar patterns reappear or additional follow-up transactions are observed, alternative interpretations may become more relevant.

⚠️ Disclaimer
Based on the on-chain information currently available, this movement appears more likely to be an internal wallet transfer or a testing-related transaction.

However, the exact purpose of these transfers cannot be confirmed without an official statement from Strategy (MSTR) or further verification from Arkham.

Accordingly, this post is intended solely as an analysis of publicly observable on-chain activity, and interpretations may change as new information becomes available.

Nothing in this post should be interpreted as investment advice, financial advice, or a recommendation to buy, sell, or hold any asset.

ForeDex assumes no responsibility for any investment decisions made based on this analysis. Readers should conduct their own research and make independent decisions based on their individual circumstances.

[ForeDex_Proof @ForeDex_Proof]

Correction & Update:

approximately 20 minutes later, nearly the same amount of Bitcoin was observed moving back:

=> Approximately 20 minutes prior to this report, nearly the same amount of Bitcoin was transferred back from the Coinbase Prime Hot Wallet to an existing Strategy-associated wallet.

[ForeDex_Proof @ForeDex_Proof]

📌 ForeDex Fact: Strategy (MSTR) Bitcoin Movement Update

Based on the additional transfer activity observed so far, this movement currently appears more consistent with an internal wallet transfer.

The primary reason this transaction attracted attention was the following flow:

✅MSTR Wallet → New Wallet → Coinbase Prime OTC-related Wallet

However, approximately 20 minutes later, nearly the same amount of Bitcoin was observed moving back:

✅Coinbase Prime Hot Wallet → Existing Strategy Wallet

If this had been a completed OTC sale, it would be difficult to explain why the same amount of Bitcoin returned to Strategy-associated wallets within such a short period of time.

As a result, the two most reasonable interpretations at this stage are:

✅An internal wallet transfer related to security or custody management.

✅A preparation or testing process for a potential future OTC transaction.

That said, this movement was also different from Strategy's typical internal wallet migration pattern observed in the past.

Most notably, an address believed to be associated with Coinbase Prime appeared in the transfer path, and the overall transaction flow was more complex than the simple wallet reorganizations previously observed.

For that reason, the possibility that this was preparation or testing for a future OTC transaction cannot be completely ruled out.

The important point is that Strategy's wallet activity should continue to be monitored closely.

If no further related movements occur, this may ultimately be viewed as a routine internal transfer.

However, if similar patterns reappear or additional follow-up transactions are observed, alternative interpretations may become more relevant.

⚠️ Disclaimer
Based on the on-chain information currently available, this movement appears more likely to be an internal wallet transfer or a testing-related transaction.

However, the exact purpose of these transfers cannot be confirmed without an official statement from Strategy (MSTR) or further verification from Arkham.

Accordingly, this post is intended solely as an analysis of publicly observable on-chain activity, and interpretations may change as new information becomes available.

Nothing in this post should be interpreted as investment advice, financial advice, or a recommendation to buy, sell, or hold any asset.

ForeDex assumes no responsibility for any investment decisions made based on this analysis. Readers should conduct their own research and make independent decisions based on their individual circumstances.

[ForeDex_Proof @ForeDex_Proof]

📌 ForeDex Fact: Did Strategy (MSTR) Sell Bitcoin?

Based on the currently observable on-chain data, this movement appears to differ from Strategy’s typical wallet migration pattern.

Therefore, while it is not possible to conclude that this was an actual sale at this stage, the possibility that these transfers were related to an OTC transaction also cannot be ruled out.

Fact 1.
Several reposts claim that Bitcoin was transferred from a Strategy (MSTR) wallet directly to a Coinbase Prime wallet.
However, the destination address has not yet been officially labeled by Arkham.
In other words, the address currently being presented as "Coinbase Prime" may simply be a user-created label rather than an officially verified attribution.

Fact 2.
Strategy (MSTR) has previously sold approximately 700 BTC in December 2024 for tax-loss harvesting purposes.
This was not due to operational stress or financial difficulties.
Therefore, the claim that Strategy has never sold Bitcoin under any circumstances is not accurate.

Fact 3.
Strategy (MSTR) regularly performs internal wallet reorganizations, typically on a monthly basis.
These wallet migrations often generate large withdrawal transactions and involve moving funds into newly created addresses.
Because of this, similar selling rumors have surfaced multiple times in the past, but were later identified as internal wallet movements.

Observation 1.
However, the transaction observed approximately three hours ago differs from the pattern typically seen in previous Strategy wallet migrations.

Historically, movements have generally followed:

✅MSTR Wallet → New Wallet

and stopped there.

This time, Bitcoin was moved from two MSTR-associated wallets into new wallets, and then transferred once again.
This additional step is what makes the current movement different from prior patterns.

Observation 2.
Strategy currently uses Coinbase Custody and has historically relied on Native SegWit addresses beginning with:

✅bc1q...

However, the address involved in this transaction begins with:

✅3...

which is a P2SH address.

This also differs from the wallet structure commonly observed in previous Strategy-related transfers.

Observation 3.
This is the most significant observation.
After the initial transfer, the Bitcoin was moved again into two additional wallets.

Based on currently available information, these addresses appear to be associated with wallets used by Coinbase Prime for OTC-related activity.

If this attribution is correct, the movement of approximately 411 BTC could potentially be related to an OTC transaction.

Variable
That said, this conclusion cannot be treated as definitive.
Strategy frequently creates new wallets, and Arkham is known to rely on AI-assisted attribution methods in some cases.
As a result, there is still a possibility that the current wallet attribution is incorrect.
If that is the case, the addresses in question may not be related to Strategy (MSTR) at all.

Current Conclusion

Based solely on the information currently available, this movement differs from Strategy’s typical internal wallet migration pattern.

If the current wallet attribution proves to be correct, an OTC-related transaction is a reasonable possibility.

However, at this stage, there is not enough evidence to confirm that any sale has actually occurred.

⚠️ Disclaimer

This post is based exclusively on publicly observable on-chain data and is provided for informational and analytical purposes only.

The actual purpose of these transactions cannot be confirmed without an official statement from Strategy (MSTR) or the relevant parties involved.

Accordingly, nothing in this post should be interpreted as a confirmed fact, investment advice, or a definitive statement regarding the intent behind these transactions.

All conclusions presented here represent observations and interpretations based on currently available on-chain information.

[ForeDex_Proof @ForeDex_Proof]

Strategy (MSTR) has previously sold approximately 700 BTC in December 2024 for tax-loss harvesting purposes. (X) => December 2022 for tax-loss harvesting purposes.(Refer to 2nd image)

[ForeDex_Proof @ForeDex_Proof]

📌 ForeDex Fact: Did Strategy (MSTR) Sell Bitcoin?

Based on the currently observable on-chain data, this movement appears to differ from Strategy’s typical wallet migration pattern.

Therefore, while it is not possible to conclude that this was an actual sale at this stage, the possibility that these transfers were related to an OTC transaction also cannot be ruled out.

Fact 1.
Several reposts claim that Bitcoin was transferred from a Strategy (MSTR) wallet directly to a Coinbase Prime wallet.
However, the destination address has not yet been officially labeled by Arkham.
In other words, the address currently being presented as "Coinbase Prime" may simply be a user-created label rather than an officially verified attribution.

Fact 2.
Strategy (MSTR) has previously sold approximately 700 BTC in December 2024 for tax-loss harvesting purposes.
This was not due to operational stress or financial difficulties.
Therefore, the claim that Strategy has never sold Bitcoin under any circumstances is not accurate.

Fact 3.
Strategy (MSTR) regularly performs internal wallet reorganizations, typically on a monthly basis.
These wallet migrations often generate large withdrawal transactions and involve moving funds into newly created addresses.
Because of this, similar selling rumors have surfaced multiple times in the past, but were later identified as internal wallet movements.

Observation 1.
However, the transaction observed approximately three hours ago differs from the pattern typically seen in previous Strategy wallet migrations.

Historically, movements have generally followed:

✅MSTR Wallet → New Wallet

and stopped there.

This time, Bitcoin was moved from two MSTR-associated wallets into new wallets, and then transferred once again.
This additional step is what makes the current movement different from prior patterns.

Observation 2.
Strategy currently uses Coinbase Custody and has historically relied on Native SegWit addresses beginning with:

✅bc1q...

However, the address involved in this transaction begins with:

✅3...

which is a P2SH address.

This also differs from the wallet structure commonly observed in previous Strategy-related transfers.

Observation 3.
This is the most significant observation.
After the initial transfer, the Bitcoin was moved again into two additional wallets.

Based on currently available information, these addresses appear to be associated with wallets used by Coinbase Prime for OTC-related activity.

If this attribution is correct, the movement of approximately 411 BTC could potentially be related to an OTC transaction.

Variable
That said, this conclusion cannot be treated as definitive.
Strategy frequently creates new wallets, and Arkham is known to rely on AI-assisted attribution methods in some cases.
As a result, there is still a possibility that the current wallet attribution is incorrect.
If that is the case, the addresses in question may not be related to Strategy (MSTR) at all.

Current Conclusion

Based solely on the information currently available, this movement differs from Strategy’s typical internal wallet migration pattern.

If the current wallet attribution proves to be correct, an OTC-related transaction is a reasonable possibility.

However, at this stage, there is not enough evidence to confirm that any sale has actually occurred.

⚠️ Disclaimer

This post is based exclusively on publicly observable on-chain data and is provided for informational and analytical purposes only.

The actual purpose of these transactions cannot be confirmed without an official statement from Strategy (MSTR) or the relevant parties involved.

Accordingly, nothing in this post should be interpreted as a confirmed fact, investment advice, or a definitive statement regarding the intent behind these transactions.

All conclusions presented here represent observations and interpretations based on currently available on-chain information.

[Lookonchain @lookonchain]

Is Michael Saylor's @Strategy about to sell $BTC?

#Strategy just deposited 411.48 $BTC($30.3M) into #CoinbasePrime.

On Polymarket, the odds of #MicroStrategy selling $BTC before Dec. 31, 2026 have now reached 84%.

https://t.co/FgZG2ZWlVi

[ForeDex_Proof @ForeDex_Proof]

@KaanChart 👍👍

[ForeDex_Proof @ForeDex_Proof]

@ForeDex_Global 👏👏👏👏

[ForeDex_Proof @ForeDex_Proof]

@BREAM_21 👍👍👍