Michael Saylor, Executive Chairman of Strategy Inc. (formerly MicroStrategy), has denied speculation that the company is selling its Bitcoin holdings, following reports of large BTC transfers and a sharp decline in the company’s stock price. Strategy moved over 38,000 BTC from known wallets, including transfers to Coinbase Custody, triggering widespread rumors on social media.
These transactions occurred as Bitcoin dropped below $95,000, amplifying concerns. Some posts falsely claimed Strategy was offloading its BTC. However, Saylor publicly stated that the company is continuing to buy and emphasized that more purchases would be disclosed in the coming days.
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Company Dashboard Shows Continued Holdings
While some accounts reported a drop in Strategy’s BTC count, the company’s own dashboard still shows a total of 641,692 BTC. This total reflects an average acquisition price of approximately $74,000 per coin, amounting to nearly $62 billion in current value.
Saylor also appeared on CNBC, where he reaffirmed that Strategy is still accumulating BTC and has been purchasing at various price levels, including during the recent market dip. He stated that the company currently holds around 3.1% of the total Bitcoin supply.
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Stock Decline and Financial Pressures
Strategy’s stock (MSTR) has continued to decline, falling below $200 for the first time in over a year. Over the past three months, MSTR has lost nearly 40% of its value. This drop has pushed the company’s market capitalization below the value of its Bitcoin holdings, with its market-to-net-asset value (mNAV) slipping below 1.
Large institutional investors have reportedly sold over $5 billion in MSTR shares in recent months. This has raised questions about the company’s funding model, which relies on equity and preferred shares to maintain liquidity and fund operations. Despite these challenges, Strategy has not indicated any intent to sell its Bitcoin holdings to meet financial obligations.
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BTC Holdings and Long-Term Strategy
Strategy has built its Bitcoin treasury over five years and has consistently presented itself as a long-term holder. The company continues to use both self-custodied and third-party custody solutions, including Coinbase and Fidelity.
The recent wallet movements may be a result of internal restructuring or custody changes, rather than liquidation. The company has not yet provided a full explanation for the transfers, but continues to report ongoing BTC accumulation. An official update on Strategy’s recent Bitcoin purchases is expected on Monday.
