Strategy Slows Bitcoin Purchases Amid Market Downturn, Saylor Hints at New Buy

Strategy (formerly MicroStrategy), the world’s largest corporate Bitcoin holder, has sharply reduced its pace of Bitcoin accumulation, marking its slowest buying period in years. Despite the slowdown, Executive Chairman Michael Saylor continues to hint that another significant purchase may be imminent.

Recent data from CryptoQuant analyst J. Maartunn reveals that Strategy’s weekly Bitcoin acquisitions have plunged from tens of thousands of BTC in late 2024 to around 200 BTC in recent weeks. At its peak, the company bought over 55,500 BTC in a single week. The decline has brought buying activity back to levels last seen five years ago, when Strategy was still testing its dollar-cost-averaging model.

This downturn in Bitcoin purchases does not signal fading confidence. Instead, tighter financial conditions have limited Strategy’s capital deployment. The company’s equity issuance premium—the gap between its stock price and the book value of its Bitcoin holdings—has collapsed from 208% to just 4%. This dramatic drop has made issuing new stock a far less effective way to fund fresh Bitcoin acquisitions.

Additionally, Strategy’s stock (MSTR) has tumbled roughly 50% from its record high, while Bitcoin trades around $111,000—about 16% below its all-time high of $126,000. These market headwinds have forced the firm to adopt a more cautious purchasing pace.

Still, Saylor’s recent post on X featuring the phrase “It’s Orange Dot Day” has sparked speculation of another Bitcoin buy. The phrase has historically preceded official purchase filings.

Even with reduced frequency, Strategy remains a dominant institutional buyer, investing about $19.5 billion in Bitcoin in 2025 alone—just shy of its $21.7 billion total from 2024. The company now holds approximately 640,418 BTC, representing 3.2% of all Bitcoin in circulation, reaffirming its long-term bullish stance on the cryptocurrency.