- Strategy shifts from aggressive Bitcoin buying to a liquidity-focused dual-reserve model.
- Corporate Bitcoin accumulation peaked in late 2024 before returning to normalized 2025 levels.
- Bitcoin posts modest gains as trading volume drops, signaling reduced short-term activity.
Strategy’s treasury doctrine has executed a hard pivot, with new filings confirming a stark deceleration in Bitcoin acquisitions throughout 2025. The company, which defined the “infinite accumulation” model, has redirected its capital markets firepower toward building a solvent U.S. dollar reserve, prioritizing balance sheet immunity over aggressive asset expansion..
Recent filings show that Strategy raised more than $1.44 billion through common-equity issuance to create a dedicated dollar reserve. The company stated that this cash pool is intended to cover dividend obligations on preferred stock and interest expenses for at least 12 months, with a target runway of 24 months. As part of the same update, Strategy noted that its risk-management options now include the possibility of selling Bitcoin or Bitcoin-linked derivatives if necessary.
Related: Saylor’s Strategy Builds $1.44B ‘Cash Moat’ to Protect Dividends, Cuts Bitcoin Outlook
The decision signals a shift from its 2020–November 2025 model of issuing securities primarily to accumulate additional Bitcoin. Instead, the firm is adopting a dual-reserve approach that keeps long-term Bitcoin holdings while retaining short-duration liquidity designed to avoid forced asset sales during periods of volatility.
Corporate Bitcoin Buying Declines After Exceptional Late-2024 Surge
Data from CryptoQuant Research shows that corporate Bitcoin accumulation was heavily concentrated in late 2024, setting records that have not been repeated since. Treasury-focused firms purchased 134,500 BTC in November 2024, a level far above earlier periods. Activity eased the following month to 59,700 BTC, but remained substantially higher than historical acquisition ranges.
Buying levels in 2025 settled into a more moderate pattern, though still elevated compared to long-term averages. Companies added 29,100 BTC in March and 31,500 BTC in July. By November 2025, accumulation had slowed to 9,100 BTC, signaling a return toward normal conduct after the prior year’s surge.
Bitcoin Price Records Gains as Trading Volume Falls
Bitcoin traded at $93,358.34 at the time of writing, reflecting a 0.48% increase over the past 24 hours. Market capitalization rose to $1.86 trillion. Trading volume fell 16.71% to $71.75 billion, pointing to reduced short-term activity.
Intraday movement showed repeated dips below $93,000 followed by recoveries, with higher lows forming through the session. Attempts to move toward $94,000 were met with resistance, and the price stabilized above $93,300 early on December 4.
Related: Strategy CEO Phong Le Says We Would Sell Bitcoin: Here’s Why and When
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Source: https://coinedition.com/strategy-slows-bitcoin-buys-builds-1-44-billion-cash-reserve/
