{"id":37523,"date":"2026-01-20T14:08:10","date_gmt":"2026-01-20T14:08:10","guid":{"rendered":"https:\/\/www.duck9.com\/blog\/?p=37523"},"modified":"2026-01-20T10:08:27","modified_gmt":"2026-01-20T14:08:27","slug":"709715-extrapolated-custody-for-bitcoin","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/709715-extrapolated-custody-for-bitcoin\/","title":{"rendered":"709,715 Extrapolated Custody for Bitcoin"},"content":{"rendered":"
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Michael Saylor<\/a><\/b><\/td>\n<\/tr>\n
\u2066\u202a@saylor\u202c\u2069<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/td>\n<\/tr>\n
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Strategy has acquired 22,305 BTC for ~$2.13 billion at ~$95,284 per bitcoin. As of 1\/19\/2026, we hodl 709,715 $BTC<\/a> acquired for ~$53.92 billion at ~$75,979 per bitcoin. $MSTR<\/a> $STRC<\/a> strategy.com\/press\/strategy\u2026<\/span><\/a><\/td>\n<\/tr>\n
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1\/20\/26, 7:02\u202fAM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n <\/td>\n<\/tr>\n
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Extrapolated Custody for Bitcoin
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The **709,715 BTC** held by Strategy (formerly MicroStrategy) as of January 19, 2026, are **not self-custodied** in wallets directly controlled by the company in a way that’s publicly verifiable on-chain. Instead, they rely on **institutional-grade third-party custodians**, with a clear shift toward diversification away from a single provider.<\/p>\n
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Here’s the best current guesstimate based on on-chain analytics (primarily from Arkham Intelligence), public transfers reported in late 2025, and consistent patterns:<\/div>\n
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– **Majority appears under Fidelity Digital Assets \/ Fidelity Custody** (the dominant share now).  <\/div>\n
  Strategy executed large transfers throughout late 2025 (e.g., ~58,390 BTC worth ~$5.1B in November 2025, plus additional ~11,642 BTC in early December 2025), moving coins from Coinbase to Fidelity. By late 2025, reports showed ~165,000\u2013177,000 BTC explicitly sent to Fidelity. Given continued accumulation and no major reported reversals, analysts estimate Fidelity now custodies the **largest portion** (likely 40\u201360%+ of the total stack, potentially 300,000\u2013450,000+ BTC). Fidelity uses an **omnibus custody model** (client assets are pooled\/mixed in shared cold storage addresses), so individual client attribution becomes harder on-chain once deposited\u2014much of Strategy’s BTC now shows up labeled under “Fidelity Custody” rather than a distinct Strategy entity.<\/div>\n
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– **Significant remaining portion still with Coinbase** (Coinbase Custody \/ Coinbase Prime).  <\/div>\n
  Earlier holdings (pre-2025 diversification) were heavily Coinbase-based (hundreds of thousands of BTC in segregated wallets). Even after the big moves to Fidelity, a substantial amount (~200,000\u2013300,000+ BTC) likely remains there, including segregated cold storage addresses that Arkham has historically tagged to Strategy.<\/div>\n
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– **Possibly smaller allocations elsewhere** (Anchorage Digital, others).  <\/div>\n
  Strategy has appeared at events with Anchorage reps discussing custody, and their Bitcoin-for-Corporations materials reference multiple custodians (Coinbase Custody, Anchorage, Fidelity). No massive transfers to Anchorage have been publicly flagged recently, so any allocation there is probably minor.<\/div>\n
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– **No meaningful self-custody \/ cold wallets under direct company control** that are publicly known or tagged.  <\/div>\n
  Michael Saylor and the company have consistently refused to publish wallet addresses, sign messages, or do traditional Proof-of-Reserves (citing security risks to the stack, custodians, and investors). Arkham Intelligence reverse-engineered and tagged ~87\u201392% of the holdings back in mid-2025 (mix of segregated Coinbase addresses + Fidelity omnibus inflows), but no new major self-custody revelation has occurred.<\/div>\n
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In summary:  <\/div>\n
Rough split guess for the current ~709,715 BTC:  <\/div>\n
– ~45\u201360%+ in **Fidelity Custody** (omnibus cold storage)  <\/div>\n
– ~30\u201345% in **Coinbase Custody\/Prime** (segregated + possibly some omnibus)  <\/div>\n
– Balance scattered across 1\u20132 other qualified custodians or legacy setups  <\/div>\n
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it’s the consensus view from on-chain trackers like Arkham as of early 2026. The company emphasizes audited SEC filings, Big-4 audits, and institutional custodian agreements as the verifiable source of truth over on-chain transparency. If you’re trying to track it yourself, Arkham’s entity page for Strategy (or Fidelity Custody) is the closest public approximation available.<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Michael Saylor \u2066\u202a@saylor\u202c\u2069 Strategy has acquired 22,305 BTC for ~$2.13 billion at ~$95,284 per bitcoin. As of 1\/19\/2026, we hodl 709,715 $BTC acquired for ~$53.92 billion at ~$75,979 per bitcoin. $MSTR $STRC strategy.com\/press\/strategy\u2026   1\/20\/26, 7:02\u202fAM     Extrapolated Custody for Bitcoin The **709,715 BTC** held by Strategy (formerly MicroStrategy) as of January […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-37523","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/37523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=37523"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/37523\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=37523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=37523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=37523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}