Strategy, led by Michael Saylor and long seen by investors as a corporate buyer of Bitcoin, has significantly reduced its purchases this year, according to CryptoQuant. Monthly purchases of Bitcoin, once a steady demand driver, have fallen dramatically, changing market observers’ view of institutional support for Bitcoin.
Significantly reduced monthly purchase amount
According to the report, Strategy’s monthly cumulative amount reached approximately 134,000 BTC at the end of 2024. By November 2025, that number had dropped to around 9,100 BTC. This move represents a drop of approximately 93% from the high water mark. This month’s purchases were almost zero, with only 135 BTC recorded at the beginning of December. These numbers show how quickly big buyers can become stretched thin.
Strategy Bitcoin Buy Collapsed to 2025.
Monthly purchases have decreased from a peak of 134,000 BTC in 2024 to just 9.1,000 BTC in November 2025, and only 135 BTC so far this month.
A 24-month buffer makes one thing clear: you’re preparing for a bear market. pic.twitter.com/qEwXR3JQ82
— CryptoQuant.com (@cryptoquant_com) December 3, 2025
A big buy amid the backlash
Reports revealed that on November 17, 2025, Strategy Inc. made a large purchase of approximately 8,178 BTC, which was worth approximately $835 million at the time. This purchase was the company’s largest since July, bringing its total holdings to approximately 649,870 BTC. But while this one entry was large, it failed to reverse the overall trend. Overall monthly activity was significantly lower than a year ago.
Your assets are large, but do you have more cash on hand?
Strategy is also building up cash, with about $1.4 billion set aside, according to CryptoQuant. This reserve is held to cover dividend payments, debt service, and other corporate needs. Observers say this signals a shift towards maintaining liquidity rather than steady Bitcoin accumulation. In other words, the company seems to be prioritizing cash stability over additional purchases for now.
BTCUSD trading at $91,995 on the 24-hour chart: TradingView
What CryptoQuant and others are paying attention to
Market analysts are taking the economic slowdown as a warning sign that corporate demand for Bitcoin bonds may be cooling. If other large holders take similar action, the structural demand that has supported prices could weaken.
Some traders may interpret this number as a move to prepare for a possible bear market. Some point out that Strategy’s large stash of assets (approximately 650,000 BTC) still leaves it with room to ride out the downturn without selling immediately.
Key signals to monitor include future monthly purchase totals and changes in Strategy’s cash holdings. Observers will be interested to see if the company returns to regular Bitcoin purchases, or if reduced-value purchases become the norm.
It is also important to monitor the financial health of other companies, as the combination of several economic slowdowns could significantly tighten the market for new issuance and availability of Bitcoin.
Featured images from JRU, charts from TradingView
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