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Bitcoin Updates: Amid Bitcoin’s Plunge, Saylor’s Company Amasses $835M, Bucking the Market Sell-Off

Bitcoin Updates: Amid Bitcoin’s Plunge, Saylor’s Company Amasses $835M, Bucking the Market Sell-Off

Bitget-RWA2025/11/19 11:32
By:Bitget-RWA

- Michael Saylor's Strategy Inc. bought 8,178 BTC ($835.6M) despite Bitcoin's 25% drop, boosting holdings to 649,870 BTC ($61.7B). - The purchase, funded by perpetual preferred stock sales, reflects confidence in Bitcoin's long-term value despite market selloffs and ETF outflows. - Saylor's firm maintains a conservative leverage ratio (8B debt vs. 61B BTC) and claims resilience against multi-year price collapses. - Institutional Bitcoin adoption persists as Harvard allocates $443M to crypto ETFs, though St

Michael Saylor's Bitcoin-Focused Company

Maintains Aggressive Buying Despite Market Swings

Michael Saylor’s enterprise, Strategy Inc. (previously MicroStrategy), has reiterated its dedication to

even after the cryptocurrency’s recent 25% price drop, acquiring another 8,178 BTC for $835.6 million between November 10 and 16. This purchase, financed through perpetual preferred stock offerings, increases the company’s total Bitcoin reserves to 649,870 BTC—currently valued at about $61.7 billion. Saylor has consistently highlighted the firm’s robust capital structure, claiming it could withstand an 80–90% plunge in Bitcoin’s value .

This acquisition comes during a broader market downturn, as Bitcoin ETFs have seen notable outflows. On November 13, U.S. spot Bitcoin ETFs recorded $866.7 million in net withdrawals—their second-largest single-day outflow since launching in January 2024.

, reflecting investor caution as Bitcoin dipped below $100,000 for the first time since early May 2025. , including the U.S. government’s budget resolution and evolving expectations for Federal Reserve policy, leading investors to shift toward cash, bonds, and gold.

Despite these conditions, Strategy’s approach remains focused on long-term Bitcoin accumulation. The latest purchases were made under its “42/42” capital plan, which aims to raise $84 billion in equity and convertible notes by 2027. This includes $21 billion through ATM programs for its STRK perpetual preferred shares and other financial instruments.

, STRE, to broaden its funding base. that Strategy’s leverage—$8 billion in debt versus $61 billion in Bitcoin assets—remains modest, with dividends “well covered” by treasury yields and ongoing access to institutional capital.

The company’s financial strength is further demonstrated by its market net asset value (mNAV) ratio, which

, indicating that its share price was nearly equal to the value of its Bitcoin holdings. Although an mNAV below 1 can raise liquidity concerns, Saylor has dismissed the possibility of forced Bitcoin sales, insisting the company’s capital structure can weather a prolonged price slump. “We’re actually buying quite a bit,” he told CNBC, .

Bitcoin Updates: Amid Bitcoin’s Plunge, Saylor’s Company Amasses $835M, Bucking the Market Sell-Off image 0

Institutional faith in Bitcoin’s prospects is also apparent elsewhere in the market.

to BlackRock’s IBIT, marking a rare move into crypto assets. At the same time, to key support levels, with analysts warning that a drop below $94,800 could spark more institutional withdrawals.

Despite ongoing turbulence, Saylor remains optimistic, arguing that Bitcoin’s limited supply and increasing institutional interest will support its long-term value. “The fundamentals are strong,” he stated, reiterating his belief that shareholders could endure a 90% price decline over four to five years

. Still, the recent 57% plunge in MicroStrategy’s share price—wiping out about $72 billion in market capitalization—highlights the risks of such a concentrated investment approach .

As the crypto sector faces ongoing macroeconomic headwinds, Strategy’s bold accumulation and Saylor’s steadfast belief act as a gauge for institutional Bitcoin adoption. Whether this approach proves robust or susceptible to further declines will hinge on Bitcoin’s price movement and the broader risk appetite in financial markets.

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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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