TLDR
- Michael Saylor denied reports that Strategy sold Bitcoin, confirming the company continues buying BTC as prices dropped below $95,000
- Strategy holds about 640,000 BTC worth roughly $22.5 billion, making it the largest corporate Bitcoin holder
- MSTR stock fell below $200, down nearly 35% year-to-date and more than 17% over five days
- Bitcoin dropped more than 4% in 24 hours from above $100,000 to under $95,000 on Friday
- Strategy plans to report its next Bitcoin purchases on Monday, with Saylor hinting at aggressive recent accumulation
Bitcoin tumbled below $95,000 on Friday. Strategy’s stock followed suit, falling below $200.
MicroStrategy Incorporated, MSTR
Online rumors suggested Strategy was selling part of its Bitcoin holdings. Executive Chairman Michael Saylor quickly shut down the speculation.
“There is no truth to this rumor,” Saylor posted on X Friday morning. He appeared on CNBC shortly after to reinforce his message.
The confusion started when on-chain data showed Bitcoin moving out of Strategy wallets. Some observers interpreted this as the company reducing its position. Reports claimed Strategy had sold about 47,000 BTC worth $4.6 billion.
Saylor made it clear the company remains committed to accumulation. “We are buying bitcoin,” he told CNBC.
He said Strategy will report its next purchases on Monday morning. The executive chair hinted that wallet activity will show aggressive buying during the recent price drop.
Bitcoin fell more than 4% in less than 24 hours. The cryptocurrency dropped from above $100,000 to under $95,000 on Friday.
Strategy holds approximately 640,000 BTC in its treasury. That makes it the largest corporate Bitcoin holder. The holdings are worth roughly $22.5 billion at current prices.
Stock Performance Continues Decline
MSTR stock traded at $205.38 on Friday. The share price fell more than 17% over the previous five days.
Year-to-date, the stock is down nearly 35%. Early Friday trading saw another 4% decline, pushing shares below the $200 mark.
The company’s market cap has fallen below the value of its Bitcoin holdings. This pushed Strategy’s market-to-net-asset value below 1. Some analysts view this as a potential undervaluation.
Despite the rumors, Strategy faces competition from other Bitcoin accumulators. Cryptocurrency exchanges like Coinbase and treasury company Metaplanet both outpurchased Strategy in October. The company’s dominance in the space has declined as more players enter the market.
Saylor Advises Four-Year Time Horizon
Saylor addressed the volatility during his CNBC appearance. “I think the volatility comes with the territory,” he said.
He recommended investors maintain a four-year time horizon for Bitcoin. Saylor noted the cryptocurrency traded in a range of $55,000 to $65,000 just over a year ago.
Even after the recent decline, Bitcoin shows strong returns from those levels. “We’ve put in a pretty strong base of support around here,” Saylor said.
He expressed confidence that BTC could rally from current prices. The executive chair advised worried investors to zoom out and look at the bigger picture.
Bitcoin briefly surged above $106,000 on Sunday. The rally came as US lawmakers worked toward ending a 43-day government shutdown.
The cryptocurrency jumped again Wednesday when the House passed a continuing resolution. President Donald Trump signed the funding bill into law.
However, when the government reopened Thursday, Bitcoin dropped back below $100,000. Strategy plans to announce its latest Bitcoin purchases on Monday morning.
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