This market will resolve to "Yes" if Strategy (formerly MicroStrategy; ticker: MSTR) has a net reduction in its total Bitcoin holdings (measured in BTC) between the time this market is created and January 1, 2027 - 00:00 PST. For the purposes of this market, a "net reduction" means the company's total reported and onchain-attributable BTC balance at January 1, 2027 - 00:00 PST is strictly less than its total reported and onchain-attributable BTC balance at the exact time this market is created.

Otherwise this market will resolve to "No."

For the purposes of this market:

• "Total Bitcoin holdings" will be determined using Strategy's official disclosures and SEC filings (e.g., 8-K, 10-Q, 10-K) where available; onchain balances from wallets the company has publicly identified or that are widely and credibly attributed to Strategy; and, if official numbers are unavailable or incomplete, a consensus of credible reporting and onchain evidence.

• Onchain wallet balances will count only if the wallets are publicly identified by the company or are credibly attributed to Strategy by multiple reputable sources.

• Temporary transfers, custodial movements, transfers used solely for collateral, lending, custodial accounting reclassifications, or internal wallet reorganizations do not qualify as a "net reduction" unless they result in a permanent decrease in the company's total BTC holdings as measured above.

• Official company disclosures and SEC filings take precedence over third-party estimates; where discrepancies exist, a consensus of credible sources will be used to determine the outcome.