Strategy’s Bitcoin buying collapses 93% in 2025 as treasury demand cools
Technique’s once-aggressive Bitcoin accumulation has slowed to a close to standstill, in line with new information from CryptoQuant.
The agency, the biggest company holder of Bitcoin, has sharply decreased its purchases all through 2025, elevating questions in regards to the sustainability of final 12 months’s treasury accumulation growth.
CryptoQuant’s newest chart exhibits month-to-month Bitcoin purchases by Technique falling from a peak of 134.5K BTC in November 2024 to simply 9.1K BTC in November 2025.
Supply: CryptoQuant
Early December information present that solely 135 BTC have been purchased up to now, making this one in all Technique’s weakest buying months in years.
A dramatic shift from 2024’s shopping for frenzy
Late 2024 was outlined by unprecedented company urge for food for Bitcoin.
Technique’s 134K BTC buy in November 2024 marked the biggest month-to-month acquisition in its historical past and helped gasoline broader institutional narratives round digital property.
However as 2025 progressed, Technique constantly reduce its shopping for tempo:
- Dec 2024: 59.7K BTC
- Mar 2025: 29.1K BTC
- Jul 2025: 31.5K BTC
- Nov 2025: 9.1K BTC
- Dec 2025 [so far]: 135 BTC
The discount displays a 93% decline from the 2024 peak, signalling a significant coverage shift in how Technique approaches treasury allocation.
Bitcoin Treasury demand cools throughout the broader market
Further information from BitcoinTreasuries.internet exhibits this slowdown isn’t taking place in isolation.
Whereas the variety of entities holding Bitcoin rose to 357 — up 4 over the previous 30 days — the entire BTC held in treasuries fell by 1.16% over the identical interval.
Supply: BitcoinTreasuries
Regardless of extra entities getting into the house, mixture BTC held throughout treasuries slipped to 4.00M BTC, suggesting that new entrants will not be shopping for on the scale essential to offset decreased accumulation from main gamers like Technique.
Market implications: decreased company absorption of BTC
Company and treasury patrons have been a significant tailwind for BTC provide dynamics in 2024. Technique’s outsized purchases contributed to shortage narratives and strengthened long-term holder provide.
With these purchases shrinking, the market loses a major supply of constant buy-side stress.
Whereas ETFs and long-term holders nonetheless dominate structural demand, the fading function of company treasuries means much less aggressive provide absorption.
Remaining Ideas
- Technique’s sharp pullback alerts the tip of 2024’s treasury-accumulation surge, shifting institutional demand dynamics for Bitcoin.
- With complete BTC held in treasuries trending decrease, ETF flows, and macro sentiment now play a bigger function in supporting long-term market construction.
