Rumors have circulated regarding the business intelligence firm Strategy, claiming it sold over 33,000 Bitcoin (BTC) from its substantial holding of 641,692 BTC. This speculation prompted a significant reaction from Michael Saylor, the company’s executive chairman, who took to social media platform X to dispel the claims, asserting that Strategy is, in fact, purchasing more Bitcoin.
Current market conditions show Bitcoin priced at approximately $95,334, following a series of drawdowns that have sent ripples through the cryptocurrency community. Amidst growing concern over potential sales from Strategy’s considerable Bitcoin treasury, Saylor clarified that the rumors were unfounded. Instead, he reaffirmed that the company continues to hold its Bitcoin sharply, with an impressive unrealized gain estimated at about $20.29 billion.
Strategy has been accumulating Bitcoin over the past five years, with an average purchase price of around $74,079 per coin. The firm’s most recent acquisition occurred less than a week ago, adding 487 Bitcoin to its vast stockpile. This extensive collection was built without indications of any intent to offload.
The swirling rumors were ignited by a tweet from a user on X, alleging that Strategy’s total Bitcoin holdings had fallen below its net asset value for the first time. The post claimed that the company had sold 33,000 Bitcoin, equating to nearly $3.2 billion, and speculated that additional sales were ongoing, prompting fears in the crypto market. In response, Saylor used the succinct term “HODL”—an acronym for “hold on for dear life,” widely used in the crypto community to encourage long-term holding of assets.
Despite moments of panic among certain users on X, many remain confident that Strategy will not initiate significant sales of its Bitcoin reserves. The ongoing bearish sentiment in the market has magnified these concerns, especially following a notable drop in Bitcoin’s price on November 13, which plunged from over $100,000 to around $98,377. This downturn led to significant liquidations—about $657.88 million of cryptocurrency positions, predominantly affecting long trades.
In parallel, Bitcoin exchange-traded funds (ETFs) experienced substantial outflows during this period, with the U.S. spot Bitcoin ETFs recording a staggering net outflow of $870 million, marking one of the largest daily outflows in the fund’s history. Although short-term traders appeared to be dominant in selling, long-term holders remained steadfast.
As the situation develops, Bitcoin’s current trading price sits at approximately $95,334.63, reflecting a 6.95% decline over the past 24 hours, illustrating the volatile nature of the cryptocurrency market as it navigates these rumors and changing economic landscapes.
