Michael Saylor’s Strategy Moves Bitcoin to Coinbase, Here’s Why

Michael Saylor’s Strategy (formerly MicroStrategy) has deposited Bitcoin to Coinbase crypto exchange, according to on-chain data. Michael Saylor earlier announced the company may sell some of its Bitcoin holdings to fund dividends. This comes as Bitcoin fell below $73K and MSTR stock crashed more than 22% in two weeks.

Michael Saylor’s Strategy Transfers Over 411 Bitcoin to Coinbase

Strategy deposited 411.48 Bitcoin worth $30.3 million into Coinbase Prime, Lookonchain reported on May 29. This appears to be MicroStrategy’s first direct token transfer to an exchange in nearly two years.

Arkham data showed on-chain transfers of 205.3 BTC and 206.2 BTC. The company also did a transaction of 0.0241 BTC worth $1.77K before sending the coins to Coinbase crypto exchange address.

In the Q1 earnings call earlier this month, Michael Saylor announced the company may sell some of its Bitcoin holdings to fund dividends. Markets saw a shift from the strict “never sell” narrative to “probably sell some Bitcoin.” The company plans to maximize BTC per share.

As CoinGape reported earlier, Strategy used cash reserves to repurchase $1.5 billion of its 0% convertible senior notes due in 2029. While it has reduced total convertible debt from $8.2 billion to $6.7 billion, cash reserves dropped to $871 million.

In addition, Strategy CEO Phong Le confirmed in a Thursday interview that the company will increase Bitcoin per share. He also claimed the company will continue to acquire BTC.

Strategy CEO @PhongLe discusses $BTC, $STRC, $MSTR, and our capital markets strategy to acquire Bitcoin and increase Bitcoin Per Share with @LizClaman. pic.twitter.com/scu8d4ER1N

— Michael Saylor (@saylor) May 28, 2026

MSTR Stock Falls amid BTC Selling Pressure

MSTR stock closed 1.66% lower at $151.64 on Thursday. The intraday low and high were $144.30 and $153.64, respectively. Trading volume was also below the average of 18 million, which has dropped in the last few weeks.

MSTR stock is down more than 8% in a week and almost 22% since May 11, erasing most of the gains. As CoinGape reported, the stock has dropped amid MSTR stock selloffs by CFO Andrew Kang and Director Jarrod Patten. Michael Saylor’s Strategy has also paused its Bitcoin accumulation.

Bitcoin fell below $73K, with the price currently trading at $73,312. It is moving between the $72,493 and $73,834 range in the last 24 hours. Furthermore, trading volume has decreased by 16% over the last 24 hours due to the crypto market crash.

CoinGlass data revealed a mix of selling and buy-the-dip sentiment in the derivatives market. At the time of writing, the total BTC futures open interest is down more than 1.22% to $55.60 billion in the last 24 hours. BTC futures open interest on CME plunged more than 6% and climbed almost 2% on Binance.