MicroStrategy Withdraws 411.5 BTC From Coinbase Prime

MicroStrategy withdrew 411.5 BTC from Coinbase Prime five hours after depositing the coins, removing an immediate on-exchange signal that had suggested a near-term sale.

On-chain trackers flagged the earlier deposit as MicroStrategy’s first direct exchange activity in nearly two years. The transfer was split into two batches of about 205 BTC with several smaller moves around the same time. Polymarket odds on MicroStrategy selling any Bitcoin in 2026 rose above 90% after the deposit, then eased after the withdrawal but remained elevated. The on-chain watcher Lookonchain posted: “Did Michael Saylor’s Strategy cancel its BTC sale? Strategy withdrew 411.5 BTC ($30.2M) back from Coinbase Prime 5 hours ago.”

Michael Saylor earlier indicated MicroStrategy could sell some Bitcoin before year-end to meet dividend and other capital needs. The company holds about 843,738 BTC, valued at more than $62 billion. Bitcoin traded near $73,532 during the episode. MicroStrategy has not added to its holdings since May 18, marking its longest pause in weekly accumulation.

On the same day, Tom Lee’s BitMine Immersion Technologies purchased 25,000 Ethereum for roughly $50.56 million. The buy increased BitMine’s holdings to about 5.39 million ETH, roughly 4.47% of total supply and close to the firm’s 5% target for the year. More than 4.7 million of those ETH are staked through BitMine’s Made in America Validator network, producing an estimated annualized yield of about $276 million.

Ether traded near $2,011, reflecting a roughly 10% decline over the past month. Institutional backers including ARK Invest and Founders Fund maintain exposure to BitMine’s program. BitMine’s BMNR shares trade below net asset value and show unrealized losses on paper.

Separately, an older Ethereum wallet sold about 55,000 ETH and 9,442 wrapped staked ETH over the past week at an average price near $2,041 per ETH, totaling roughly $112 million and $24 million respectively. The withdrawal from Coinbase Prime removed the immediate exchange signal of a MicroStrategy sale while prediction-market odds and prior company comments that prompted the alert remained.