Michael Saylor Slams 47,000 BTC Sale Rumor, Teases “Pleasantly Surprising” New Buys
Michael Saylor moved shortly on Friday to stamp out contemporary hypothesis that his Bitcoin acquisition car, Strategy, had quietly bought tens of 1000’s of cash throughout this week’s market downturn.
The govt chair called the claims “false” and insisted the corporate remains to be accumulating Bitcoin regardless of a unstable stretch that pushed BTC under $95,000 for the primary time in six months.
The rumors exploded after crypto analytics platform Arkham flagged what it described as a drop in Strategy’s Bitcoin holdings from 484,000 BTC to 437,000 BTC, a distinction of roughly 47,000 BTC price about $4.6 billion on the time.
The report circulated simply as Bitcoin slipped greater than 4% in beneath 24 hours, falling from above $100,000 to under $95,000. Saylor dismissed the hypothesis in a put up on X, writing that there was “no fact” to ideas the agency had lowered its place.
Saylor Rejects Sell-Off Rumors, Confirms Strategy Added 487 BTC This Week
Speaking in a while CNBC, he doubled down, saying Strategy was not solely not promoting however was accelerating its purchases. “We are shopping for,” Saylor stated. “We’ll report our subsequent buys on Monday morning.”
He added that the present value motion had not shaken the agency’s technique. “If you’re going to be a Bitcoin investor, you want a four-year time horizon, and you should be ready to deal with volatility.”
Internal knowledge from Strategy appeared to help his feedback. The firm’s dashboard showed complete Bitcoin holdings of 641,692 BTC as of Monday, matching its earlier disclosure, and its SEC filings confirmed continued accumulation all through early November.
The sudden motion of cash earlier within the day added contemporary uncertainty to already fragile crypto markets.
On-chain analysts reported that Strategy transferred greater than 58,000 BTC to new wallets, a shift that triggered algorithmic buying and selling exercise and accelerated the sell-off.
Although analysts later attributed the transfers to custody restructuring relatively than liquidation, the clarification did little to ease broader considerations.
Market stress shortly unfold to Strategy’s monetary footing. Shares of its Nasdaq-listed inventory, MSTR, fell under $200 in pre-market buying and selling on Friday, its lowest stage since October 2024.
The firm’s Net Asset Value a number of briefly slipped under 1 for the primary time, indicating that traders have been valuing the agency at lower than the value of its Bitcoin holdings.
The a number of has since recovered to 1.09, however the shift marks a break from years during which Strategy persistently traded at a premium.
That reversal displays cooler investor expectations. According to K33 Research, Strategy’s fairness premium has contracted by $79.2 billion since November 2024.
While the corporate raised over $31 billion by share issuance throughout that interval, analysts estimate practically $48 billion of implied Bitcoin demand by no means translated into precise BTC purchases.
Some market watchers say traders are now not utilizing MSTR as a simple proxy for Bitcoin publicity.
Others dismissed liquidation fears. Analyst Willy Woo said Strategy is unlikely to face stress to promote earlier than 2027 so long as MSTR trades above $183.19, a threshold linked to the corporate’s debt construction. He famous that solely a weak 2028 Bitcoin cycle might pressure partial gross sales.
The dispute comes amid wider turbulence throughout digital belongings and U.S. markets. Bitcoin briefly jumped above $106,000 after lawmakers ended a record 43-day government shutdown, however the rally pale as expectations for a December Federal Reserve price reduce diminished.
Despite the volatility, Strategy stays the biggest company holder of Bitcoin; nonetheless, its market share has fallen from 75% to 60% as extra corporations add BTC to their treasuries.
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