MicroStrategy, now Strategy, leads as the top Bitcoin treasury company with 649,870 BTC worth over $58 billion. Facing challenges amid the crypto market crash, legendary short-seller Jim Chanos confirmed shorting MSTR positions. JPMorgan warned of potential delisting from leading equity indices due to their crypto treasury model.

Wall Street giants like BlackRock trimmed their MSTR holdings in Q3 2025. Arkham Intelligence revealed Strategy moved billions in Bitcoin over the last two months, diversifying custodians. While Coinbase was their trusted custodian, Strategy shifted $5 billion worth of BTC to Fidelity Custody, clarifying it’s not a sale but a custodian diversification.

Fidelity Custody pools clients’ assets together in an omnibus system, mixing Strategy’s Bitcoin holdings with others. MSTR stock closed at $177.18 on Nov. 28, up 0.88% in a day. The crypto market operates 24/7, with Bitcoin trading at $90,917.79, down 0.55% on Black Friday.

Read more at Yahoo Finance: Michael Saylor’s MicroStrategy moves billions in Bitcoin