Arkham Traces 97% of Strategy’s Bitcoin Amid Debate

Arkham Intelligence has announced it identified 97% of all of Strategy’s vast Bitcoin reserves, giving more details about Michael Saylor’s firm just a few days after Saylor spoke against the concept of proof-of-reserves.

In a post on X, the firm said it has found that Strategy currently holds a total of 580,250 BTC, equivalent to about $59.92 billion. As a result, Arkham confirms it holds 610,000 BTC valued at more than $6.3 billion.

Arkham Maps Saylor’s BTC With Precision

The new find arrives shortly after an earlier note from the platform highlighted another group of Strategy’s BTC, equating to additional 70,816 BTC. Arkham Intelligence is the first to publicly show a detailed, near-complete map of Saylor’s company’s Bitcoin supply.

The proof-of-reserves initiative demonstrates a real step toward making things transparent, Arkham highlighted. Arkham’s explorer has revealed that more than 454,000 BTC are kept safely in segregated wallets, while the remaining 107,000 are retained in its more obscure omnibus custody.

Saylor’s points have prompted many to bring up proof-of-reserves again, pointing out that publishing addresses on the blockchain can make firms vulnerable to cyber threats. That attracted some criticism from people in the crypto world.

Nate Geraci said as president of the ETF Store on X, “If Bitwise is at ease sharing its wallet details, so should Strategy.” Striving for transparency is better than concealing the fund’s activities.

While the issue is being debated, Arkham’s findings may lead the way on transparency in managing crypto assets for the general public, no matter what corporate custodians think.

As the debate unfolds, it is clear the proper balance of privacy and transparency in crypto has not yet been figured out and Arkham’s latest achievement has pushed matters even further.