Strategy, a corporate Bitcoin buyer led by Michael Saylor, has long been on the radar of investors and has sharply reduced its purchases this year, according to CryptoQuant. Once a steady driver of demand, monthly purchases of Bitcoin have fallen dramatically, changing the way market observers view institutional support for Bitcoin.
Monthly purchases drop sharply
According to the report, Strategy’s monthly accumulation peaked at approximately 134,000 BTC in late 2024. By November 2025, that number had dropped to around 9,100 BTC. This is a decline of approximately 93% from the high point. Purchases this month were almost non-existent, with only 135 BTC recorded in early December. These figures show how quickly major buyers can weed out.
Strategy’s Bitcoin Purchases Collapse By 2025
Monthly purchases have decreased from a peak of 134,000 BTC in 2024 to 9,100 BTC in November 2025, and only 135 BTC so far this month.
With a 24-month buffer period, one thing is clear: you are prepared for a bear market. pic.twitter.com/qEwXR3JQ82
— CryptoQuant.com (@cryptoQuant_com) December 3, 2025
Large purchases during a downtrend
According to the report, on November 17, 2025, Strategy purchased a significant amount of approximately 8,178 BTC, valuing the purchase at approximately $835 million at the time. The purchase was the company’s largest since July and brought its total holdings to approximately 649,870 BTC. However, while the single item was large, it did not reverse the broader trend. Overall monthly activity is much lower than a year ago.
Do you have a lot of reserves, but do you have more cash?
Strategy has also been stockpiling cash, bringing it to about $1.4 billion, according to CryptoQuant. These reserves are held to cover dividend payments, debt service, and other company needs. Observers say this signals a shift toward preserving liquidity rather than steady accumulation of Bitcoin. That said, the company appears to be prioritizing cash stability over additional purchases at the moment.
BTCUSD trading at $91,995 on the 24-hour chart: TradingView
What CryptoQuant and others are seeing
Market analysts are taking this slowdown as a warning sign that corporate appetite for Bitcoin government bonds may be cooling. If other large shareholders do the same, structural demand that helps support prices could be weakened.
Some traders will interpret this number as a move to prepare for a bear market. Others point out that Strategy’s massive holdings (nearly 650,000 BTC) give it room to ride out a recession without having to sell immediately.
Key signals to monitor include the total amount of future monthly purchases and changes in the Strategy’s cash holdings. Observers will be watching to see whether the company returns to regular Bitcoin purchases, or whether reduced purchases become the norm.
It is also important to monitor other corporate treasuries, as multiple recessions occurring simultaneously could significantly reduce the market for newly minted and available Bitcoin.
Featured image by JRU, chart by TradingView
editing process for focuses on providing thoroughly researched, accurate, and unbiased content. We adhere to strict sourcing standards, and each page is diligently reviewed by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of the content for readers.
