Bitcoin News Today: Defying Sales Rumors, Saylor's Strategy Adds 8,178 Bitcoin Amid Volatility

Michael Saylor's Strategy (MSTR) has announced a new $835.6 million Bitcoin purchase, acquiring 8,178 BTC at an average price of $102,171 per coin, bringing its total holdings to 649,870 BTC valued at approximately $61.7 billion according to The Block. The acquisition, funded by proceeds from perpetual preferred stock sales and a euro-denominated issuance, underscores the company's aggressive Bitcoin treasury strategy. Saylor, who has long advocated for Bitcoin as a strategic asset, reiterated the firm's commitment to "buying quite a lot" of Bitcoin amid recent market volatility.

The move comes amid persistent rumors that Strategy had begun selling its Bitcoin reserves, sparking panic on social media platforms like X. False claims alleging the sale of 33,000–47,000 BTC circulated widely, prompting Saylor to deny the reports outright. "We are buying," he told CNBC, emphasizing that the firm has no plans to divest its holdings and will report additional purchases on Monday according to Bitcoin Magazine. The rumors, which included misinterpretations of on-chain wallet movements, led to a brief drop in Strategy's market-to-net-asset value below 1, a metric some investors view as a signal of undervaluation.

Strategy's Bitcoin portfolio, accumulated over five years, now represents over 3% of Bitcoin's total supply. The firm's average purchase price of $74,433 per coin has generated roughly $13.3 billion in unrealized gains at current prices. Saylor has consistently defended the strategy, arguing that Bitcoin's long-term appreciation -averaging 50% annually over the past five years- outperforms traditional assets like gold and the S&P 500.

The broader Bitcoin market has faced headwinds recently, with prices falling below $95,000 for the first time in six months. The decline triggered $657.88 million in liquidations on November 13, with long positions accounting for 82% of losses. US spot Bitcoin ETFs also saw record outflows, losing $870 million in a single day - the second-largest outflow on record according to Yahoo Finance. Despite this, institutional investors have continued to accumulate Bitcoin via ETFs, with year-to-date inflows reaching $24 billion, according to data from BlackRock and Fidelity.

Saylor's firm remains unfazed by short-term volatility. Bernstein analysts noted that Strategy's leverage remains conservative, with $8 billion in debt against $61 billion in Bitcoin holdings, and emphasized the company's ability to raise capital through preferred stock programs according to The Block. The firm's "42/42" capital-raising plan, targeting $84 billion through 2027, reflects its confidence in Bitcoin's long-term trajectory.

As Bitcoin trades near $95,000, Saylor reiterated his bullish stance, suggesting the current price level offers an attractive entry point for long-term investors. "Bitcoin is always a good investment," he said, provided holders maintain a four-year time horizon according to Bitcoin Magazine. With Strategy's latest purchase and continued market turbulence, the firm's strategy appears poised to further solidify its position as one of the largest corporate Bitcoin holders globally.