Strategy's roughly 3,568 Bitcoin transfer, valued at about $297 million, was internal Fidelity Custody activity rather than a sale, Arkham analyst Emmett Gallic said. Lookonchain identified 12 outflows from addresses tagged as Strategy-controlled over about nine hours, but Gallic said Fidelity's pooled-custody structure can create on-chain movements without changing the beneficial owner. The transfers drew scrutiny after Strategy adopted a BTC Monetization Program in June and subsequently reported Bitcoin sales, although its latest filing showed it bought 1,665 Bitcoin for $142.7 million between Sept. 21 and Sept. 27. That purchase lifted its holdings to 847,666 Bitcoin, acquired at an average cost of $75,437 per coin. Strategy shares traded near $156.51 on Tuesday, down about 3% over the preceding week, while Bitcoin briefly fell below $83,000 before recovering.