Blockchain analytics startup Arkham Intelligence has boldly tried to trace all the Bitcoin (BTC) owned by Michael Saylor’s company, Strategy. The on-chain analytics firm has identified 97% of Strategy’s massive Bitcoin stash . This follows Saylor’s recent comments regarding the company’s proof of reserve. The move has sparked fresh discussions on transparency in the crypto space. Arkham Brings Strategy’s Bitcoin Holdings Into the Light In a recent post on X, Arkham confirmed it has identified 97% of Strategy’s Bitcoin reserve. This includes a fresh acquisition of 53,833 BTC, worth about $5.75 billion. In total, Arkham says it has tracked 580,250 BTC, worth nearly $60 billion. The company believes it is the first to publicly trace these wallets and share them with the crypto community. These wallets were added to Arkham’s growing list of addresses linked to Strategy and its Chairman. Just a day before this, Arkham reported finding over 70,000 BTC purchased by the Virginia-based firm. These updates have strengthened the platform’s efforts to create a complete and public record of Strategy’s Bitcoin reserves. Pushing Toward Public Proof-of-Reserves In the post, Arkham says this is all part of its goal to build a fully transparent proof-of-reserve system. Its blockchain explorer shows that Strategy holds over 454,000 BTC in separate wallets, each address of which can be viewed individually. However, not all of Strategy’s Bitcoin is traceable. The on-chain analytics revealed that 107,000 BTC is kept in a shared custody account with Fidelity Investments. These coins do not appear on Arkham’s explorer because they are mixed with other clients’ funds. Nevertheless, with 97% now accounted for, Arkham is closer than ever to revealing Strategy’s full Bitcoin stash. Saylor Says Proof-of-Reserve is Risky, Critics Fire Back Meanwhile, before Arkham’s latest update, Michael Saylor had warned that proof-of-reserve . He believes that sharing wallet addresses publicly could create safety risks, like hacking or cyberattacks. However, not everyone agrees with him. Nate Geraci, president of The ETF Store, responded to Saylor’s comments with a different view. In an X post , Geraci said that if companies like Bybit and Binance can reveal their wallet addresses, then Strategy should be able to do the same. He pointed out that Bitcoin was built on the idea of transparency. In his words, hiding information goes against what crypto is supposed to stand for. This difference in views has caused an uproar in the crypto community. The post Arkham Uncovers Strategy’s Bitcoin Stash Amid PoR Controversy appeared first on TheCoinrise.com .
