Strategy Bought Bitcoin Daily Despite Its Drop Below $95K

Key Highlights

  • Michael Saylor shared a post on X, saying that “We bought bitcoin every day this week”
  • Earlier, he refuted rumors that his company, Strategy, dumped a massive amount of Bitcoin, which sparked massive liquidation in the community
  • His statement comes amid the catastrophic fall in the crypto market, with Bitcoin declining below $95,000

Strategy Executive Chairman Michael Saylor took to X on November 14, saying that “We bought bitcoin every day this week.”

Not only this, earlier, he also denied rumors that his company was liquidating its massive Bitcoin holdings. He said that there is no truth to reports alleging a sale of 47,000 BTC, a stake worth approximately $4.6 billion.

“We are buying Bitcoin, [and] we’ll report our next buys on Monday morning. I think people will be pleasantly surprised. In fact, we’ve been accelerating our purchases,” he said.

This public comment was a response to social media buzz that intensified after Bitcoin’s sharp price drop from over $100,000 to under $95,000 within a single day. 

He shared a post on X, revealing that Strategy had purchased Bitcoin every single day that week despite the extreme market volatility. The company’s public-facing dashboard confirms its holdings have remained stable at 641,692 BTC. 

Some blockchain analysts have also verified this by citing an absence of major transfers from wallets known to be linked to Strategy. Saylor urged investors to HODL and to zoom out for perspective, reminding them that Bitcoin was trading between $55,000 and $65,000 just one year prior. 

Strategy Sounds Confident Despite Major Fall in BTC

As of November 14, Strategy holds over 641,692 BTC, which were acquired at an average price of $74,085 per coin for a total investment of $61.77 billion. These holdings are now worth significantly more, even after the recent dip, given that prices have peaked above $100,000. 

The firm has accelerated its purchases in recent quarters, including a major acquisition of a $1.5 billion tranche in December 2024 at an average price of $95,976 per Bitcoin. To fund these ongoing purchases, Saylor’s team continuously leverages at-the-market equity offerings.

This aggressive strategy has not gone unnoticed. Saylor also recently pitched Microsoft on adopting Bitcoin as a treasury asset. This mirrors his own company’s pivotal 2020 decision that transformed MicroStrategy from a software firm into a leading corporate proxy for cryptocurrency. Despite the current stock woes and ongoing regulatory scrutiny, Saylor’s evangelism is undimmed, stating plainly, “Our buys are accelerating.” 

Market analysts suggest that this consistent corporate buying could help stabilize Bitcoin prices during market downturns, solidifying MSTR’s position as a high-beta play on digital gold. As markets work to rebound, Saylor’s public defiance underscores a massive, unwavering bet on what he believes is Bitcoin’s inexorable long-term rise.

Bitcoin Crashes Below $95,000 as Market Sentiment Sours

Bitcoin’s price has plunged below the $95,000 mark, a level not seen in roughly six months. This sharp decline has pushed the world’s largest cryptocurrency to the brink of erasing all its gains for this year. The sell-off shows a wave of risk aversion, leading investors to pull nearly $900 million from Bitcoin-focused funds in a single day.

At the time of writing, the cryptocurrency is trading at around $96,237.04 with a 2.6% drop, according to CoinMarketCap.

This price drop has fundamentally altered trader behavior. For most of the year, the options market was dominated by bullish “call” options, with bets focused on Bitcoin reaching $120,000 and beyond. 

However, data now shows a surge in demand for “put” options, which provide downside protection. The most popular contracts are now those speculating on prices falling to $90,000 and $85,000.

Some other key market indicators confirm the negative sentiment. The “fear and greed index” is nearing “extreme fear.” It shows that traders are bracing for further declines. This is compounded by rising liquidations of leveraged long positions, meaning traders who placed trades on higher prices are being forced to sell. 

Activity in the crypto futures market has also failed to recover from a major crash that occurred in early October, when Bitcoin traded at its record high of $126,251. The current price sits just above its 2023 closing level of $93,714, highlighting the severity of the recent downturn.

Source: https://www.cryptonewsz.com/strategy-bitcoin-daily-despite-drop-below-95k/