Strategy’s Monthly Bitcoin Purchases Plummet; $1.4 Billion Cash Reserve Provides Bear Market Buffer

According to the latest report from CryptoQuant Research, the world’s largest publicly traded Bitcoin holder, Strategy, has significantly slowed its pace of Bitcoin accumulation, signaling a shift in its ongoing reserve strategy from aggressive “offense” to a more cautious “defense.”

Data shows that Strategy’s monthly Bitcoin purchases have dropped sharply from a 2024 peak of approximately 134,000 coins to just 9,100 in November 2025, with only 135 coins bought so far this December. This cliff-like decline aligns perfectly with the company’s recent move to establish a massive cash reserve.

In fact, Strategy successfully raised $1.4 billion earlier this month through a stock sale and explicitly stated that the vast majority of these funds would be held as cash reserves—to cover dividends and interest payments for the next two years—rather than being used for further Bitcoin purchases.

These actions indicate that Strategy is “decoupling” shareholder returns from short-term Bitcoin price fluctuations, with the core goal of ensuring it can fulfill its financial commitments in any market environment.

At the heart of this strategic shift is the company’s effort to proactively build a financial safety net in anticipation of a potential bear market or prolonged market downturn.

As a result, analysts widely believe that, as one of the most influential “whale” buyers in the market, Strategy’s significantly reduced purchasing power will directly weaken a key source of liquidity in the Bitcoin market.

In summary, whether Strategy’s pivot is driven by a cautious outlook for the near-term market or internal pressures facing its “stock-for-Bitcoin” growth model, this shift marks the end—at least for now—of the frenzied, cost-agnostic Bitcoin accumulation led by major public companies. The market may now be entering a new phase, requiring a reassessment of the supply and demand structure.

#Strategy # Investment Strategy