Bitcoin News Today: Saylor's Unshaken Bitcoin Faith Fuels Strategy's Bold Buy-In Amid Market Slide

Michael Saylor, executive chairman of Strategy, has dismissed rumors that the company is selling its massive Bitcoin holdings amid a broader market selloff, reaffirming his commitment to the firm's long-term accumulation strategy. The claims, which emerged after on-chain data showed BTC moving from company-controlled wallets, sparked panic in parts of the crypto community.

However, Saylor told CNBC on Friday that the firm is "buying bitcoin" and will report further purchases on Monday. "There is no truth to this rumor," he added in a subsequent post on X according to a report.

The denial comes as Bitcoin and Strategy's stock (MSTR) face renewed pressure. Bitcoin fell below $96,000 on November 14, marking a 6.95% decline over the past 24 hours, while MSTR dropped nearly 35% year-to-date, trading below $200. Analysts from Bitfinex described the current correction as a "mid-cycle consolidation phase" rather than a bear market, noting that Bitcoin's 22% drawdown from its all-time high aligns with historical patterns seen in June 2024 and February 2025 according to market analysis.

Saylor's comments follow speculation that Strategy, which holds 641,692 BTC (worth approximately $22.5 billion), might offload some of its stash to stabilize its balance sheet. The company's market-to-net-asset value (mNAV) has fallen below 1, a metric often interpreted as a sign of undervaluation. Despite this, Saylor emphasized that Strategy's Bitcoin purchases are accelerating, with recent data showing the firm added 487 BTC to its holdings less than a week ago. "We've put in a pretty strong base of support around here," he said, suggesting Bitcoin's recent pullback could be a buying opportunity according to company statements.

The rumors gained traction after an X user alleged Strategy had sold 33,000 BTC, worth $3.2 billion. Saylor's swift dismissal of the claims, coupled with his historical stance on Bitcoin's long-term potential, has reassured some investors. "We are in it for the long haul," he reiterated, echoing his past arguments that Bitcoin's value will continue to rise despite short-term volatility according to market analysis.

Meanwhile, broader market sentiment remains mixed. U.S. spot Bitcoin ETFs recorded $870 million in net outflows-the second-largest daily outflow on record-though long-term holders have largely remained steadfast according to industry reports. Bitcoin's price decline has also triggered $657.88 million in liquidations, with long positions accounting for the majority of losses according to financial data.

Strategy's Bitcoin holdings, accumulated over five years at an average cost of $74,079 per coin, now carry $20.29 billion in unrealized gains according to financial data. Saylor's insistence on maintaining and expanding these holdings underscores his belief in Bitcoin's role as a store of value, even as market volatility persists.