On-chain researcher: Strategy-related BTC transfers are merely Fidelity custody internal routine fund reallocation, not a sale

Odaily News: Regarding Lookonchain's monitoring of Strategy transferring out 3,568 BTC over the past 9 hours, on-chain researcher Emmett Gallic stated that the related transactions are not a sale or asset relocation, but rather routine internal fund reallocation 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.