Blockchain intelligence firm Arkham has claimed to have uncovered Bitcoin wallet addresses belonging to Strategy, formerly known as MicroStrategy. The firm is widely recognized as the largest institutional holder of Bitcoin. In a post on X (formerly Twitter), Arkham announced it had identified 70,816 BTC in wallets it attributes to Strategy—representing approximately 87.5% of the company’s known Bitcoin holdings. This amount includes assets held with Fidelity Digital’s omnibus custody service, which had previously remained anonymous on the blockchain.
SAYLOR SAID HE WOULD NEVER REVEAL HIS ADDRESSES … SO WE DID
— Arkham (@arkham) May 28, 2025
We have identified an additional 70,816 BTC belonging to Strategy, bringing our total identified MSTR BTC holdings to $54.5 Billion. We are the first to publicly identify these holdings.
This represents 87.5% of… pic.twitter.com/P3OVdVrhQL
Transparency vs. Privacy: A New Era for Institutional Crypto
The revelation is reigniting a long-standing debate in the crypto space: transparency versus privacy. With Bitcoin’s public ledger recording every transaction, tools like Arkham’s make it increasingly difficult for institutional holders to operate behind a veil of anonymity. While Arkham’s methodology hasn’t been disclosed in detail, the findings suggest that even major players can be traced. So far, neither Strategy nor its chairman, Michael Saylor, has commented on the disclosure. However, the implications are clear: crypto’s era of opaque institutional ownership may be nearing its end.
Also Read: Leather Expands Bitcoin DeFi Access with Mobile App
Schiff’s Ironic Role in Bitcoin’s Popularity
In an ironic twist, financial commentator and long-time Bitcoin critic Peter Schiff recently claimed that he may have unintentionally driven more people to invest in Bitcoin than any of its supporters. At the Bitcoin 2025 conference, where U.S. Vice President JD Vance declared the death of “Operation Chokepoint 2.0,” Schiff shared that many attendees credited his criticism as the spark that encouraged them to dive deeper into the asset. Schiff, a staunch gold advocate, has never endorsed Bitcoin, yet acknowledges his unexpected influence in shaping the conversation around digital assets.
Many Bitcoiners on X accuse me of causing a lot of people to lose money because I didn't recommend that they buy Bitcoin. Well based on what I've been told by countless attendees at Bitcoin 2025, I'm likely responsible for more people owning Bitcoin than any other individual.
— Peter Schiff (@PeterSchiff) May 28, 2025
As institutional holdings become increasingly traceable and public interest continues to surge, Bitcoin’s landscape is shifting. Whether these developments enhance trust or raise new concerns remains to be seen—but the debate over privacy and accountability in crypto is far from over.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
