Strategy's Bitcoin Purchases Plunge 93% in 2025 as Demand for Treasuries Declines

Recent statistics from CryptoQuant indicate a dramatic decrease in Bitcoin purchases by Strategy, the largest corporate holder of the cryptocurrency. This shift raises concerns regarding the sustainability of the treasury accumulation boom experienced in previous years. In November 2025, Strategy's Bitcoin purchases fell significantly, marking one of the weakest buying periods in recent history.

Key Takeaways

Strategy's Bitcoin acquisitions plummeted by 93% in 2025 compared to 2024.
Monthly Bitcoin purchases dropped from 134,500 BTC in November 2024 to just 9,100 BTC in November 2025.
The decline reflects a broader trend of reduced corporate treasury demand for Bitcoin.
Total Bitcoin held in treasuries decreased by 1.16% in the last month, despite an increase in the number of entities holding Bitcoin.
The reduction in corporate buying may affect market dynamics and supply absorption.

Strategy’s Bitcoin buying collapses 93% in 2025 as treasury demand cools

A Significant Change from the Buying Surge of 2024

The latter part of 2024 was marked by an unprecedented surge in corporate interest in Bitcoin. Strategy's record purchase of 134,500 BTC in November 2024 was the largest monthly acquisition ever recorded by the company. This buying spree played a crucial role in shaping positive narratives around institutional investments in digital assets.

However, as 2025 unfolded, Strategy began to scale back its acquisition pace dramatically. The reduction represents a substantial 93% drop from the peak seen in 2024, indicating a significant shift in the company's treasury allocation strategy.

Cooling Bitcoin Treasury Demand Across the Market

Additional insights from BitcoinTreasuries.net reveal that this slowdown in purchases is part of a broader trend. Although the number of entities holding Bitcoin increased to 357—an uptick of four over the last 30 days—the total Bitcoin held in corporate treasuries fell by 1.16% during the same period.

Bitcoin DAT holding

This indicates that while new players are entering the market, they are not purchasing at levels sufficient to counteract the decreased buying from major entities like Strategy. Currently, the total Bitcoin held in treasuries is down to 4 million BTC.

Market Implications: Decreased Corporate Demand for BTC

Corporate and treasury entities were significant drivers of Bitcoin supply dynamics in 2024. The substantial purchases made by Strategy helped to create scarcity narratives around BTC and reinforced the supply held by long-term investors.

With these acquisitions now diminishing, the market may experience a loss of a vital source of consistent buying pressure. Although exchange-traded funds (ETFs) and long-term holders continue to dominate market demand, the declining role of corporate treasuries indicates less aggressive absorption of Bitcoin supply.

Conclusion

The notable downturn in Bitcoin purchases by Strategy highlights a changing landscape for corporate treasury investments in cryptocurrencies. As the market shifts, stakeholders will need to monitor how this reduced buying pressure affects overall demand and pricing dynamics in the Bitcoin ecosystem.