Market pressure spiked on Friday as cryptocurrencies dropped sharply, pushing Bitcoin below $94,000 for the first time in six months. The slide stirred fresh concern across trading circles, where rumors spread that Michael Saylor’s firm, Strategy, was unloading part of its massive Bitcoin holdings. However, Saylor quickly stepped in to dismiss the claims, confirming that Strategy hadn’t sold any BTC and had actually increased its position during the week.
False reports began circulating early from small, low-credibility accounts, but they gained momentum once larger profiles on X with sizable followings reshared them. That boost drove rapid speculation, although many long-time observers remained confident that Strategy would not stray from its long-standing accumulation pattern.
Saylor responded on X and later in a CNBC interview, dismissing the rumors. He explained that Strategy actually used the week’s price drop to add to its holdings and noted that sharp swings are typical for a risk-on asset like Bitcoin.
Anyone seeking long-term exposure, he said, must expect sudden declines while keeping attention on multi-year cycles, where Bitcoin has repeatedly outperformed more traditional investments. He also said Strategy is under no conditions that would force it to sell its BTC reserves. Even an 80% drawdown, he added, would not pressure the company to reduce its position.
As of its upcoming Monday update, Strategy’s known holdings remain at 641,692 BTC, worth nearly $62 billion. A filing earlier this month confirmed the firm’s most recent purchase:
Rumors grew louder when some users claimed Arkham Intelligence had flagged Strategy as selling. Arkham quickly denied that reading and explained the on-chain activity behind the confusion. The firm said Strategy shifted 43,415 BTC from Coinbase Custody into more than 100 new addresses as part of a routine custodian change — not a sale.
Arkham added that Strategy often rotates wallets and custodians, and the transactions seen on Friday were simply part of that ongoing process. No signs of market selling appeared in the data.
On-chain analyst Willy Woo had previously weighed in with his own breakdown of Strategy’s balance sheet and debt profile. His view is that the firm remains in a strong position, even if the market turns lower. Woo put Strategy’s main liquidation level near $91,502 per BTC, which sits below current trading levels, and said the company’s 641,205 BTC stack is now valued at roughly $64 billion.
Woo also pointed to a longer-term consideration, noting that Strategy could face partial liquidation risk around 2028 if Bitcoin fails to climb enough to offset upcoming debt cycles. Even so, he said the company remains far from any stress point for now, and its pace of accumulation continues steadily.
