Onchain Researcher: Strategy's Related BTC Transfer Is Just Normal Internal Fund Rebalancing Within Fidelity Custody, Not a Sale

Odaily News: In response to Lookonchain's monitoring of Strategy transferring out 3,568 BTC over the past 9 hours, onchain researcher Emmett Gallic stated that the related transactions are not a sale or asset relocation, but rather normal internal fund rebalancing within Fidelity Custody.

He stated that Fidelity treats all BTC deposited by clients as fungible assets and will transfer funds as needed, and the related addresses have also been labeled as Fidelity on Arkham.