Michael Saylor's MicroStrategy moves billions in Bitcoin

MSTR +0.88% BTC-USD -0.21%

The world's leading Bitcoin (BTC) treasury company, MicroStrategy (Nasdaq: MSTR), now rebranded to Strategy, has been moving billions in BTC.

Led by co-founder and executive chairman Michael Saylor, Strategy is a software company that began accumulating Bitcoin in 2020.

Now, it is the world's leading Bitcoin treasury company that holds 649,870 BTC worth more than $58 billion.

Related: 107-year-old bank expects all MSCI indices to dump MicroStrategy

But it is now facing challenges on multiple fronts amid the crypto market crash.

Jim Chanos, the legendary short-seller, has confirmed shorting MSTR positions.

Next, the Wall Street giant JPMorgan warned that leading equity indices, including the Morgan Stanley Capital International (MSCI) USA Index, could delist Strategy due to its crypto treasury model.

Saylor countered that it's not a fund and the potential index delisting has no impact on how the company views itself or operates.

Then, it turned out that Wall Street giants, including Capital International, The Vanguard Group, and BlackRock (NYSE: BLK), trimmed their MSTR holdings in Q3 2025.

More News:

• Michael Saylor responds to JPMorgan’s MSCI delisting warning

• Michael Saylor finally addresses short-sellers as mNav drops

• Wall Street giants including BlackRock dump MicroStrategy shares

MicroStrategy moves Bitcoin to Fidelity Custody

Now, the onchain intelligence platform Arkham Intelligence has revealed that Strategy has been moving Bitcoin worth billions of dollars over the last two months.

However, it is not a sale but a diversification of Bitcoin custodian, Arkham clarified.

While Coinbase has been Strategy's long-trusted Bitcoin custodian, Strategy has moved 58,390 BTC worth approximately $5 billion to Fidelity Custody over the past 2 months, as per Arkham.

The onchain intelligence platform explained that Fidelity Custody uses an omnibus system in which their clients’ assets are pooled together. It means Strategy’s Bitcoin holdings are mixed with other clients of Fidelity.

The MSTR stock closed at $177.18 on Nov. 28, up 0.88% in a day. Given it's Black Friday today, the U.S. market closed at 1:00 PM ET.

Unlike the traditional stock markets, the crypto market operates 24/7. Bitcoin was exchanging hands at $90,917.79 at the time of writing, down 0.55% in a day.

This story was originally published by TheStreet on Nov 28, 2025, where it first appeared in the Trading News & Analysis section. Add TheStreet as a Preferred Source by clicking here.