Blockchain analytics firm Arkham Intelligence has made a substantial portion of Strategy Inc.'s bitcoin holdings visible on the public ledger through wallet tracking and custody monitoring. In an Oct. 1 update, Arkham identified approximately 78% of the company's 847,666 bitcoin treasury.
Arkham attributed $40.28 billion in bitcoin to Strategy's labeled wallets and an additional $15.5 billion to assets held within Fidelity Custody, bringing the tracked total to $55.78 billion. According to Arkham's dashboard, approximately 478,199 BTC is distributed across roughly 1,600 addresses associated with Strategy.
Custody Operations and Fund Movements
Arkham's tracking combines addresses directly associated with Strategy with assets held in Fidelity's pooled custody arrangement, where customer assets are held collectively. This distinction became relevant when thousands of bitcoin left Strategy-labeled addresses before Arkham's update. Following flagged transfers of 3,568 BTC on Sept. 29, Arkham analyst Emmett Gallic attributed the movements to routine Fidelity custody operations, explaining that the custodian treats customer deposits as interchangeable and moves funds as needed.
Recent Bitcoin Purchases and Holdings
Strategy acquired 1,665 BTC between Sept. 21 and Sept. 27 for $142.7 million, according to the company's Sept. 28 disclosure. The purchase brought the company's total reported holdings to 847,666 BTC, acquired for approximately $63.95 billion at an average cost of $75,437 per coin. This represents approximately 4.04% of bitcoin's maximum supply of 21 million coins.
The acquisition was funded partly through proceeds from common stock sales. During the same week, Strategy allocated $142.7 million of $246.2 million in net stock sale proceeds to bitcoin purchases, with the remainder directed toward preferred stock repurchases.
