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Strategy Gearing Up to Buy Bitcoin While OG Whale Keeps Selling

Strategy Gearing Up to Buy Bitcoin While OG Whale Keeps Selling

CoinspeakerCoinspeaker2025/11/08 16:00
By:By Wahid Pessarlay Editor Kirsten Thijssen

Michael Saylor’s Bitcoin treasury is preparing for another Bitcoin accumulation following a successful raise in Europe.

Key Notes

  • On-chain data shows test transactions from Coinbase to Strategy.
  • Bitcoin OG Owen Gunden moved his last chunk of BTC holdings to an unknown address.
  • The broader cryptocurrency market remains uncertain, with Bitcoin hovering below $102,000.

Strategy, the leading Bitcoin ( BTC ) treasury company with 641,205 BTC, is preparing to accumulate more of the digital gold following a fundraising in Europe.

On-chain data shows that the company, led by Michael Saylor, has completed five test transactions from Coinbase Prime over the past two days.

When an institution or whale makes a test transaction, it’s usually an indicator of preparing for a large inflow. In this case, Strategy aims to make sure its wallet address works seamlessly to avoid a huge loss.

Strategy’s test transactions come just after a €620 million, roughly $717 million, STRE offering in Europe . The Bitcoin treasury firm, which was originally a business intelligence and data analytics company,  tapped a foreign market for the first time since its initial public offering in June 1998.

Saylor’s company’s latest Bitcoin purchase of 397 BTC, at an average price of $114,771, was recorded on Nov. 3.

Currently, Bitcoin is trading at $101,800 with a market cap of $2.03 trillion.

OG Whale Keeps Selling

Bitcoin OG whale Owen Gunden has been aggressively dumping his BTC holdings , worth roughly $11 billion in total, since Oct. 21 via the Kraken crypto exchange.

The long-time Bitcoin holder sent the last portion of his assets – 3,549 BTC, worth $361.8 million – to an unknown address.

Bitcoin OG Owen Gunden seems ready to dump all of his 11K $BTC ($1.12B).

8 hours ago, he moved his remaining 3,549 $BTC ($361.84M) — with 600 $BTC ($61.17M) already deposited to #Kraken .

— Lookonchain (@lookonchain) November 9, 2025

Moreover, the new address has already deposited 600 BTC, worth $61.1 million, to Kraken.

Sudden crypto deposits into cryptocurrency exchanges typically result in a selloff.

Due to the whale’s large holdings, the movement will likely put pressure on the Bitcoin price unless Strategy’s buying spree neutralizes the negative momentum.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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