Amid the proof-of-reserve debate, which began with Michael Saylor’s recent comments, Arkham Intelligence has traced wallets holding Strategy Bitcoin holdings. The on-chain analytics platform revealed that it has identified 97% of the company’s 580,250 BTC stash.
Arkham Identifies Strategy’s Bitcoin Holdings
In an X post, Arkham Intelligence announced that they have identified an additional 53,833 BTC ($5.75 billion), bringing the platform’s coverage of Strategy and Saylor’s holdings to $59.92 billion, which accounts for 97% of the company’s total holdings. The platform noted that it has become the first to publicly identify these BTC holdings.
This comes after CoinGape reported yesterday that Arkham had identified an additional 70,816 BTC belonging to Saylor’s company, which brought the total identified holdings to $54.5 billion.
The platform stated that the latest development brings them one step closer to a free and public proof of reserves for all of Strategy’s Bitcoin holdings. Arkham’s explorer shows that the company holds over 454,000 BTC in segregated custody. Meanwhile, around 107,000 BTC is in Fidelity’s omnibus custody and therefore doesn’t appear on the explorer.
This discovery comes just days after Michael Saylor stated that proof-of-reserve is a bad idea. He further cited security concerns, noting that doxxing these wallets could lead to vulnerabilities and a potential cyberattack.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
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