Michael Saylor Denies Bitcoin Sale Rumor, Confirms Continued Accumulation
Michael Saylor has denied rumors that his firm, Strategy, sold 47,000 BTC. Instead, he confirmed that the firm is continuing to accumulate Bitcoin, with the next purchases to be reported Monday morning.
The rumor originated from Arkham data showing Strategy's holdings had dropped from 484,000 BTC to 437,000 BTC, a decline of roughly 47,000 BTC (around $4.6 billion at the time). However, Strategy's internal dashboard indicated total holdings of 641,692 BTC as of Monday, and SEC filings also verify ongoing accumulation in early November.
On-chain data revealed that around 58,915 BTC were moved to new wallets, which analysts attributed to custody restructuring rather than liquidation of holdings.
The market responded with Strategy's stock (MSTR) sliding below $200 in pre-market trading, and Bitcoin falling from above $100,000 to below $95,000 — price action that contributed to broader market uncertainty.
Since November 2024, Strategy's equity premium has contracted by approximately $79.2 billion. The firm raised about $31.1 billion through dilution, but about $48.1 billion of implied Bitcoin demand has not been realized as spot purchases.
Although Strategy remains the largest corporate Bitcoin holder, its market share declined from approximately 75% to 60%.
Analyst Willy Woo suggested that a partial liquidation is unlikely before 2027 if MSTR remains above $183.19, with only a weak 2028 cycle potentially triggering sales.
The article also noted broader turbulence in the crypto markets, including a short-lived rally of Bitcoin above $106,000 following news of a government shutdown. This rally faded as expectations for rate cuts diminished.
