BTC News: Is Strategy Selling Bitcoin? Saylor Denies The Rumors

Michael Saylor confirms Strategy keeps buying Bitcoin; wallet moves and NAV drop caused concern, but no forced sale is expected.

Michael Saylor, executive chair of Strategy, recently denied reports claiming the company sold Bitcoin during a recent flash crash. 

Some of these reports noted that Strategy offloaded 47,000 BTC worth $4.6 billion. Saylor then took to X to clarify that these claims were false. He also confirmed the company continues adding to its 640,000 BTC holdings.

Strategy’s Market Position

Strategy continues to be the largest corporate holder of Bitcoin. However, its dominance has declined as other players enter the market. Crypto exchanges like Coinbase and treasury company Metaplanet outbought Strategy in October.

Strategy’s Nasdaq-listed MSTR stock also suffered. 

There is no truth to this rumor.

— Michael Saylor (@saylor) November 14, 2025

The price fell to $205.38 at the time of reporting, which is a decline of more than 17% in five days. The market reacted to Bitcoin price volatility along with news about Strategy’s recent wallet activity.

Bitcoin Price Movements and Government Shutdown

Bitcoin surged above $106,000 on Sunday after optimism over a US government funding deal. Prices rose again on Wednesday when the House of Representatives passed a continuing resolution and President Trump signed the funding bill.

However, the BTC price fell below $100,000 on Thursday after the government reopened, showing a limited long-term effect. 

Data from Nansen confirmed that market optimism was short-lived and price movement continues to be sensitive to macro conditions.

The $5.77 Billion Wallet Move That Caused Panic

Market anxiety first spiked after Strategy moved 58,915 BTC (valued at $5.77 billion) to new wallets. Traders on X speculated the move was a possible sale, and speculators reacted aggressively.

Strategy(@Strategy) moved 58,915 $BTC($5.77B) to new wallets today, likely for custody purposes.https://t.co/FgZG2ZWlVi pic.twitter.com/fimqXsgLH0

— Lookonchain (@lookonchain) November 14, 2025

Analysts then later clarified that the transfer was likely a custodial restructuring rather than a distribution. 

Arkham AI noted the move was wallet rebalancing, not liquidation and despite the explanation, market sentiment continued to be fragile as traders assessed the risks.

Related Reading: Strategy Raises $715M to Purchase More Bitcoin via Preferred Stock

Strategy’s NAV Drops Below 1

One of the biggest concerns that created these fears was from Strategy’s Net Asset Value (NAV) metric. 

According to analysts, the NAV fell below 1 for the first time. This meant that MSTR shares were valued less than the Bitcoin they hold. At the time of reporting, the NAV had recovered slightly to 1.09 but is still considered low.

A NAV below 1 indicates that the market values Strategy’s stock at a discount relative to its BTC reserves. This is a show of investor worries about debt risk, liquidity and the company’s aggressive Bitcoin acquisition strategy.

Vetle Lunde from K33 Research noted a $79.2 billion drop in Strategy’s equity premium since November. Although the company raised $31.1 billion through dilution, nearly $48.1 billion in implied Bitcoin demand did not translate into actual BTC purchases. 

Analysts Reassure Investors

Bitcoin analyst Willy Woo downplayed fears of forced liquidation. He said that Strategy is unlikely to sell Bitcoin in the next bear market as long as MSTR trades above $183.19 by 2027. 

This level corresponds to roughly $91,500 per BTC at a 1x NAV multiple.

Woo noted that a partial liquidation may only occur if Bitcoin underperforms during the 2028 bull cycle. Overall, analysts agreed that Strategy’s wallet move was routine and does not show any signs of distress.