Bitcoin News Today: Michael Saylor's BTC Accumulation Defies Downturn, Gains Hold Strong

Bitcoin's recent price decline has put Michael Saylor's Strategy Inc. (MSTR) in a high-stakes test of its aggressive Bitcoin accumulation strategy, but the company's massive holdings remain profitable despite market volatility. Strategy added 8,178 BTC for $835.6 million during the week of November 10–16, bringing its total holdings to 649,870 BTC, valued at approximately $48.37 billion at an average purchase price of $74,433 per bitcoin according to reports. The purchase, funded through preferred stock offerings, underscores the firm's unwavering commitment to treating Bitcoin as a long-term reserve asset.

CryptoQuant's unrealized profit and loss (uPnL) data reveals Strategy's holdings have remained in profit even through multiple market downturns, with the company's average cost basis significantly lower than the current $90,000+ price as data shows. "Bitcoin is an exponential treasury asset," Saylor stated, dismissing concerns over short-term volatility. The firm's BTC Yield reached 27.8% year-to-date as of November 16, 2025, reflecting the resilience of its portfolio.

The recent purchase marks Strategy's largest Bitcoin acquisition since July and comes amid a broader market correction. Bitcoin fell below $95,000 for the first time in seven months, triggering fears of further declines. Prediction markets now price in a 38% chance of Bitcoin dropping below $80,000. However, Saylor denied rumors of selling holdings, telling CNBC, "We are buying bitcoin," and hinting at "surprising" upcoming activity according to CNBC. On-chain movements initially fueled speculation of a sale, but analytics firm Arkham clarified the transfers likely represented internal custodial shifts.

Technical indicators suggest the market may be nearing a short-term bottom. CoinCare analysts noted Bitcoin's Net Unrealized Profit (NUP) metric at 0.476, historically signaling short-term support levels. Additionally, a falling wedge pattern on the 4-hour chart suggests a potential breakout toward $120,000 if Bitcoin remains above critical support.

Strategy's funding strategy relies on issuing preferred stock, with the latest purchase largely financed by a €620 million offering that raised $703.9 million after fees according to Bloomberg. The euro-denominated preferred shares, however, have soured as Bitcoin's decline has pressured their valuation; they now trade below their 80-cent offer price as Bloomberg reports. Despite this, Saylor remains bullish, envisioning a $1 trillion Bitcoin balance sheet to fuel Bitcoin-backed credit products and financial innovation.

While MSTR's stock price has fallen 35% year-to-date, its market-to-net-asset value ratio has dipped below 1, a level often cited as undervaluation. Saylor argues the company's leverage is "fractional," with no immediate debt triggers, and reiterated that Bitcoin's long-term returns will outperform traditional assets. "Zoom out," he advised investors, noting Bitcoin's 50% annualized growth over the past five years.