Strategy has transferred 58,390 BTC to Fidelity Custody in the past two months to reduce its reliance on Coinbase.

Odaily Planet Daily reports that Arkham has released an update on Strategy's Bitcoin holdings: Strategy has been diversifying its custodians to reduce its reliance on Coinbase. In the past two months, it has transferred 58,390 Bitcoins (currently worth $5.1 billion) to Fidelity Custody.

Fidelity Custody employs a commingled account system, where client assets are held in a mixed manner, including some of Strategy's Bitcoin, which is also mixed with assets held by other Fidelity clients. This means that on the Arkham platform, more of Strategy's Bitcoin now appears under the name of the Fidelity Custody entity, rather than under Strategy's own entity. Including the Bitcoin deposited into Fidelity Custody, Arkham tracks approximately 92% of Strategy's Bitcoin. Strategy holds a total of 641,692 Bitcoins (worth $56.14 billion), of which 165,709 Bitcoins (worth $14.5 billion) have been sent to Fidelity custody.