Arkham Intelligence traced approximately 70,816 BTC to Bitcoin wallets linked to MicroStrategy, revealing nearly 88% of its disclosed holdings on-chain.
This increased transparency exposes much of MicroStrategy’s Bitcoin holdings that were previously untraceable or kept in complex custody setups.
The discovery also connected some of these wallets to Fidelity Digital’s custody services, offering visibility into institutional Bitcoin holdings.
The findings by Arkham Intelligence underscore a growing trend in revealing corporate Bitcoin reserves and raise concerns about privacy and security for institutional investors.