UPDATE: The world’s largest Bitcoin treasury company, Strategy, has dramatically reduced its monthly Bitcoin purchases, signaling a potential bear market ahead. Analysts at CryptoQuant report that purchases plummeted from 134,000 BTC at the peak in 2024 to a mere 9,100 BTC in November 2025, with only 135 BTC acquired so far this month.
This drastic decline comes as the broader crypto treasury market faces downturns, leading many to speculate on the future of Bitcoin’s value. With current holdings valued at approximately $58.7 billion, Strategy is clearly bracing for turbulent times ahead.
In a significant move, Strategy made its largest purchase since July, acquiring $835.5 million worth of Bitcoin on November 17, raising its total Bitcoin reserves to 649,870 BTC. However, the company’s stock has been struggling, and CEO Michael Saylor remains resolute in his commitment to Bitcoin, stating he “won’t back down” despite the challenges.
The company is also facing pressure to cover debt obligations. With plans for a 12-month runway to meet these costs, Strategy aims to expand this to a 24-month buffer. This strategy comes amidst setbacks to its bid for inclusion in major stock market indexes due to proposed policy changes by MSCI, which could cut off passive inflows vital for Strategy’s financial stability.
As the market reacts, Bitcoin’s Bollinger Bands are signaling a possible resurgence, reminiscent of the “parabolic” bull signals from late 2023. Observers are keenly watching how these developments will influence Bitcoin’s trajectory and Strategy’s financial health.
Investors and enthusiasts alike are urged to stay tuned for further updates as this story develops. The implications of Strategy’s strategy could have far-reaching effects on the cryptocurrency landscape.
