Strategy-linked wallets moved 3,568 BTC worth about $297 million within nine hours, according to on-chain data shared by Lookonchain and attributed to Arkham Intelligence. The 11 transfers moved Bitcoin between wallets linked to Strategy. The BTC was not sent to major exchanges such as Binance or Coinbase. Some of the addresses involved have also been linked to Fidelity custody. This suggests the transfers could be related to wallet or custody management. The movements do not confirm that Strategy sold Bitcoin. Further transfers to exchanges or addresses linked to selling activity would provide more evidence of a potential sale.

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