MicroStrategy Moves 59K Bitcoin To Fidelity Custody Worth Over 5 billion

TLDR

Table of Contents

Strategy moved 58,390 BTC worth $5B from Coinbase to Fidelity Custody.
Fidelity uses an omnibus system mixing client BTC holdings under custody.
Strategy holds 649,870 BTC valued over $58 billion at current prices.
MSTR stock closed at $177.18, rising 0.88% on November 28.

Michael Saylor’s firm, MicroStrategy — now rebranded as Strategy — has moved nearly 59,000 Bitcoin, valued at around $5.1 billion, to Fidelity Custody. The transfer has raised questions across financial and crypto circles, as Strategy remains the largest corporate holder of Bitcoin with over 649,000 BTC. While the move is not a sale, it signals a major shift in how the company manages and secures its Bitcoin reserves.

Large-Scale Bitcoin Transfer to Fidelity Custody

Strategy, formerly known as MicroStrategy, has moved nearly 59,000 Bitcoin to Fidelity Custody over the past two months. According to Arkham Intelligence, the exact figure transferred stands at 58,390 BTC, valued at approximately $5.1 billion at the time of transfer.

The Bitcoin was previously held with Coinbase, which had been Strategy’s main custodian since the company began acquiring BTC in 2020. Arkham Intelligence confirmed that the transfer does not indicate a sale, but a change in custody provider.

Fidelity Custody’s Omnibus System

Arkham further explained that Fidelity Custody operates with an omnibus system. This structure means that clients’ assets, including those of Strategy, are held together in a shared pool. While this provides added efficiency and security, it also masks the exact amount held by each client from public view.

This move follows a pattern where institutional investors and crypto-focused firms are diversifying their storage strategies. Although the change has raised questions about Strategy’s intent, the company has not disclosed plans to sell any of the transferred Bitcoin.

Market Conditions and Speculation Around Sell-Off

The crypto market is currently under pressure, with Bitcoin down 0.55% at $90,917.79. Concerns about a potential sell-off emerged after the transfers were tracked on-chain. A popular crypto account on X (formerly Twitter) speculated that the move could be a way to offload BTC discreetly.

“MicroStrategy, Michael Saylor’s firm, has transferred around 59,000 $BTC — worth about $5.1 billion — to Fidelity,” said @MidnightCrypt0, adding that the company could be preparing for a large-scale sale. However, no official statements have confirmed any such plan.

Institutional Pressure and Market Reactions

Strategy holds a total of 649,870 BTC, which is currently worth more than $58 billion. The firm has long positioned itself as the leading public Bitcoin treasury company. But it is now facing several challenges from both financial markets and regulators.

According to recent disclosures, major asset managers like BlackRock, Vanguard, and Capital International trimmed their holdings in MSTR shares during Q3 2025. This comes as JPMorgan warned that the MSCI USA Index could remove Strategy due to its unconventional treasury model based on Bitcoin.

Michael Saylor responded to these concerns by stating, “We are not a fund, and our operations are not tied to index inclusions.” Despite ongoing volatility, Saylor has continued to promote Bitcoin as a core asset for corporate balance sheets.

Stock Movement and Short Interest in MSTR

Shares of Strategy (MSTR) closed at $177.18 on November 28, reflecting a 0.88% increase for the day. The early market close was due to the Black Friday holiday in the United States.

Meanwhile, well-known short-seller Jim Chanos confirmed that he has shorted MSTR positions, pointing to concerns over Strategy’s high exposure to Bitcoin. While this may suggest bearish sentiment around the stock, Strategy’s long-term Bitcoin strategy remains unchanged, according to company leadership.