Bitcoins last recession has occurred sparked much speculation about whether Strategy’s (formerly known as MicroStrategy) massive holdings are playing a role in the market’s weakness. Concerns escalated sharply when wallet monitoring platforms spotted large Bitcoin transfers linked to the company, prompting widespread claims that a major sell-off had begun.
The conversation gained even more traction when a widely reported report claimed that Strategy had reduced its Bitcoin holdings by tens of thousands of tokens. Michael Saylor moved quickly to address the rumor, but the back and forth between on-chain interpretations and official statements raises questions about what really happens behind the scenes.
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How wallet moves turned into full-blown sell-out rumors
The controversy started when Walter Bloomberg shared a post quoting Arkham Intelligence and claiming Strategy had reduced their Bitcoin supply from 484,000 BTC to approximately 437,000 BTC.
The alleged drop of around 47,000 BTC immediately led to questions about whether the company had quietly begun liquidating. Saylor immediately responded under the post, saying, “There is no truth to this rumor,” outright dismissing the claim.
There is no truth in this rumor.
— Michael Saylor (@saylor) November 14, 2025
As the situation spread across social platforms, Arkham Intelligence later clarified what had actually happened. In a message on Xthe company explained that Strategy had moved 43,415 BTC since midnight UTC, worth more than $4.2 billion, but also noted that the activity consisted of routine custodian rotations.
According to Arkham, the transfers were due to Coinbase Custody’s move to a new custodian, along with internal rebalancing and wallet renewal processes. None of the moves indicated selling and that Strategy conducts these holding transitions regularly. Anyone following these wallet clusters over the past two weeks would have seen similar flows, eventually followed by relabeling once new addresses were identified.
Saylor’s Public Reassurance and Continued Bitcoin Accumulation
In response to the swirling speculation, Saylor took a definitive stand to calm the markets. During an interview on CNBCSaylor addressed the controversy, stating that Strategy had not sold Bitcoin and had no plans to do so.
His comments left no room for ambiguity as he said: “We are buying; we will report our next purchases on Monday morning.”
He went on to describe the company’s long-term financial position and confidence, noting that the company has built a very strong foundation here with its Bitcoin holdings. Saylor also emphasized that Strategy’s debt structure does not impose any immediate liabilities, saying the debt is still “4.5 years out.” This means that there is currently no financial pressure that would require the liquidation of Bitcoin.
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Shortly after the interview, he amplified his message on X: clearly explanatory, “We bought bitcoin every day this week,” which directly contradicts all of Strategy’s claims of continued selling pressure.
In terms of price action, Bitcoin has spent in a downtrend for most of this weekcausing the price to now trade below $100,000. At the time of writing, Bitcoin is trading at $96,084.
Featured image from Unsplash, chart from TradingView