This week, Strategy (formerly MicroStrategy) transferred 1,030 BTC worth roughly $66.14 million, according to on-chain tracker Lookonchain. The move comes just days after the company disclosed it sold 1,638 BTC last week at an average price of $63,957, raising about $104.7 million. Meanwhile, MARA moved 6,000 BTC — valued at approximately $384.6 million — to Two Prime within a five-hour window. Both transfers show how the largest corporate Bitcoin holders are actively managing their positions.
Why Strategy sold
Strategy sold the 1,638 BTC to fund preferred dividends and STRC stock repurchases. The company faced $400.7 million in Q2 obligations. CEO Michael Saylor has stated he never sold his personal Bitcoin and that the company's sales are strictly for corporate capital management. After the sale, Strategy still holds 842,138 BTC, worth about $54 billion at current prices. Its average cost basis sits at $75,419 per Bitcoin.
MARA's Bitcoin allocation
MARA transferred 6,000 BTC to Two Prime, a firm in which it holds an equity stake. The company allocates Bitcoin to Two Prime's strategies. This isn't MARA's first big move this year — it sold 15,133 BTC in March to retire $1 billion in convertible debt. MARA currently holds 36,303 BTC, worth approximately $2.34 billion.
What the transfers signal
Large on-chain movements from corporate holders can rattle retail traders, but these are routine treasury operations. Strategy remains the largest corporate Bitcoin holder by a wide margin. MARA's allocation to Two Prime suggests it's using the firm for yield or hedging strategies. Neither company appears to be reducing its long-term Bitcoin bet — just managing cash flow and debt.
Strategy's next quarterly filing will show whether it needs to sell more Bitcoin to meet upcoming obligations. MARA hasn't disclosed its next steps with Two Prime. Both moves are worth watching as the market digests the supply.
