Michael Saylor denied rumors that his Bitcoin acquisition vehicle, Strategy, sold tens of thousands of coins during a market downturn. Despite a drop in holdings, Saylor insists they are still accumulating Bitcoin. The company transferred over 58,000 BTC to new wallets, causing market uncertainty. Strategy’s stock fell, reflecting investor concerns.

Internal data from Strategy supports Saylor’s claim of continued accumulation. The company’s Bitcoin holdings matched previous disclosures, with SEC filings confirming ongoing purchases. While there was speculation of liquidation, analysts attributed transfers to custody restructuring. Strategy’s stock value dropped, signaling investor unease about its Bitcoin holdings.

Strategy’s Net Asset Value multiple briefly fell below 1 for the first time, indicating investors valued the firm less than its Bitcoin holdings. The equity premium has contracted significantly since 2024. Although there are concerns, analysts believe there is no pressure to sell until 2027. Strategy remains the largest corporate holder of Bitcoin.

Bitcoin briefly rose above $106,000 but fell as expectations for a December Federal Reserve rate cut diminished. Despite volatility, Strategy still holds a significant market share of Bitcoin. As more firms add BTC to their treasuries, Strategy’s market share has decreased from 75% to 60%.

Read more at Yahoo Finance: Michael Saylor Slams 47,000 BTC Sale Rumor, Teases “Pleasantly Surprising” New Buys