MicroStrategy triggered market speculation by transferring 411.5 BTC to a Coinbase Prime wallet. This transfer was valued at approximately $30 million. On-chain analysts noted this was the company's first direct exchange deposit in nearly two years.
The move sparked fears that the largest corporate Bitcoin holder intended to sell part of its holdings. MicroStrategy withdrew the exact same amount of Bitcoin from the exchange just hours later. This reversal calmed market anxieties regarding an imminent sell-off.
The initial deposit caused Polymarket odds for a MicroStrategy Bitcoin sale to spike above 90%. These odds specifically tracked the likelihood of a sale occurring by 2026. Market sentiment stabilized immediately following the withdrawal.