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Strategy Slows Bitcoin Accumulation: Preparing for Prolonged Bear Market?

Wednesday Dec 3 2025 22:20

2 min

Table of Contents

1. Strategy Slows Bitcoin Accumulation: A Sign of a Prolonged Bear Market?
1.1 Dramatic Decline in Monthly Purchases
1.2 Significant Purchase in November
1.3 Fortifications to Address Market Pressures
1.4 Challenges to Inclusion in Major Stock Market Indexes
1.5 Strategy's Engagement with MSCI

Strategy Slows Bitcoin Accumulation: A Sign of a Prolonged Bear Market?

A recent analysis by CryptoQuant reveals that Strategy, the largest corporate holder of Bitcoin, has significantly slowed its rate of cryptocurrency accumulation throughout 2025. CryptoQuant analysts interpret this move as preparation for a drawn-out bear market.

Dramatic Decline in Monthly Purchases

CryptoQuant's Wednesday report highlighted a dramatic monthly reduction in Bitcoin (BTC) purchases by Strategy since late 2024. According to the report, monthly purchases fell from 134,000 BTC at the 2024 peak to just 9,100 BTC in November 2025, and only 135 BTC so far this month. "A 24-month buffer makes one thing clear: they’re bracing for the bear market,” CryptoQuant commented.

Significant Purchase in November

Despite this overall slowdown, Strategy purchased 8,178 BTC for approximately $835.5 million on November 17, its largest purchase since July. This brings its total holdings to 649,870 BTC, valued at approximately $58.7 billion at the time of this writing.

Fortifications to Address Market Pressures

In November, Strategy CEO Phong Le stated that the company might consider selling some of its BTC to cover debt costs, but only if the company's stock falls below its net asset value (NAV), or if it loses access to financing. The company has also established a $1.4 billion cash reserve to meet its dividend payment obligations and debt service costs. The reserve should provide Strategy with a 12-month runway to meet its debt obligations, with plans to expand the reserve to build a 24-month buffer, the company stated.

Challenges to Inclusion in Major Stock Market Indexes

Strategy is also facing challenges in its bid for inclusion in major stock market indexes. MSCI, which sets eligibility criteria for many of these indexes, has proposed a policy change that would bar treasury companies holding 50% or more of their balance-sheet assets in crypto. Such a rule would cut off firms like Strategy from the passive inflows that come with index inclusion.

Strategy's Engagement with MSCI

Michael Saylor, the co-founder of Strategy, recently stated that Strategy is engaging with MSCI regarding the proposed policy change, which is set to take effect in January.

Risk Warning: This article is provided for informational purposes only and does not constitute investment advice, investment research, or a recommendation to trade. The views expressed are those of the author and do not necessarily reflect the position of Markets.com. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Cryptocurrency CFD trading restrictions may apply depending on jurisdiction.

Written by:

Emma Rose

Strategy Slows Bitcoin Accumulation: Preparing for Prolonged Bear Market?

Strategy Slows Bitcoin Accumulation: A Sign of a Prolonged Bear Market?

Dramatic Decline in Monthly Purchases

Significant Purchase in November

Fortifications to Address Market Pressures

Challenges to Inclusion in Major Stock Market Indexes

Strategy's Engagement with MSCI

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