Bitcoin Updates: Saylor Remains Confident in Bitcoin, Driving Strategy's Aggressive Investment Despite Market Downturn

Michael Saylor, the executive chairman of

, has refuted speculation that the company is offloading its substantial reserves during the recent market downturn, reiterating his dedication to the company’s long-term accumulation approach. These rumors surfaced after blockchain data indicated transfers from wallets managed by the company, causing unease within the crypto sector. Nevertheless, Saylor told CNBC on Friday that the company is “acquiring bitcoin” and intends to disclose additional purchases on Monday. “This rumor is completely unfounded,” he later posted on X .

This rebuttal comes as both Bitcoin and Strategy’s stock (MSTR) encounter renewed selling pressure. Bitcoin dropped below $96,000 on November 14, representing a 6.95% decrease in the last 24 hours, while

, with shares trading under $200. Bitfinex analysts characterized the current downturn as a “mid-cycle consolidation” rather than a full bear market, pointing out that Bitcoin’s 22% pullback from its record high is consistent with previous corrections seen in June 2024 and February 2025 .

Saylor’s remarks come amid speculation that Strategy, which owns 641,692 BTC (valued at about $22.5 billion), could sell part of its holdings to strengthen its balance sheet. The company’s market-to-net-asset value (mNAV) has

, a ratio often seen as an indicator of undervaluation. Despite this, Saylor stressed that Strategy’s Bitcoin acquisitions are ramping up, with recent figures showing the company added 487 BTC to its portfolio just days ago. “We’ve established a solid support level here,” he noted, implying that the recent dip in Bitcoin’s price may present a buying opportunity .

The speculation intensified after an X user claimed Strategy had sold 33,000 BTC, worth $3.2 billion. Saylor’s prompt denial, along with his consistent advocacy for Bitcoin’s long-term prospects, has helped reassure some investors. “Our commitment is for the long term,” he emphasized, reiterating his previous assertions that Bitcoin’s value will keep increasing despite short-term fluctuations

.

Elsewhere, overall market sentiment remains divided. U.S. spot Bitcoin ETFs saw $870 million in net withdrawals—the second-largest daily outflow ever—though most long-term investors have held firm

. The recent drop in Bitcoin’s price has also led to $657.88 million in liquidations, with the bulk of losses coming from long positions .

Strategy has accumulated its Bitcoin over five years at an average price of $74,079 per coin, resulting in $20.29 billion in unrealized profits

. Saylor’s unwavering focus on growing these holdings highlights his confidence in Bitcoin as a store of value, even as the market continues to fluctuate.