BREAKING: The world’s largest Bitcoin treasury company, Strategy, has dramatically cut its Bitcoin purchases, signaling urgent preparation for a potential bear market. Analysts from CryptoQuant report that monthly Bitcoin buys plummeted from 134,000 BTC at the peak in 2024 to only 9,100 BTC in November 2025, with just 135 BTC purchased so far this month.
This steep decline in accumulation comes amid a widespread downturn in the cryptocurrency market. As of November 17, Strategy made its largest purchase since July at a cost of $835.5 million, increasing its total Bitcoin holdings to 649,870 BTC, valued at approximately $58.7 billion.
Analysts interpret this reduced buying as a strategic move to brace for a prolonged downturn. “A 24-month buffer makes one thing clear: they’re preparing for a bear market,” a CryptoQuant spokesperson stated.
Despite this shift, Strategy CEO Michael Saylor remains committed to Bitcoin, asserting he will not back down from his investment strategy. However, the company faces pressure as it seeks to cover its debt obligations and dividend payments. Recent reports indicate that Strategy is aiming for a 12-month runway to manage its financial responsibilities, with plans to extend this buffer to 24 months.
Additionally, Strategy’s ambitions for inclusion in major stock market indexes have encountered significant hurdles. The index provider MSCI has proposed changes that could exclude companies like Strategy, potentially leading to a loss of passive investment inflows. If implemented, this rule could trigger outflows of up to $8.8 billion from passive investment products that include Strategy.
As the cryptocurrency landscape evolves, the immediate future for Strategy remains uncertain. Investors are watching closely for any further announcements regarding its asset management and market strategy. With the looming threat of a bear market, all eyes are on Strategy as it navigates these turbulent waters.
Stay tuned for updates on this developing story.
