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Strategy Might Have Paused Bitcoin Accumulation Last Week
The company's stock valuation sits near cycle lows as index exclusion chatter grows.
Updated Nov 24, 2025, 4:25 p.m. Published Nov 24, 2025, 1:26 p.m.
What to know:
- Strategy appeared to make no bitcoin purchases last week, after a run of six consecutive weekly buys.
- MSTR is down about 70% from its peak and is trading just above a 1.16 times multiple to net asset value, the lowest of this cycle.
Strategy (MSTR), the largest publicly traded company holding bitcoin , did not appear to have added to its bitcoin position last week.
Executive Chairman Michael Saylor typically takes to X to preview buys each Sunday and then tweets out the details by around 8 am ET on Monday morning. There were no such tweets this week.
This ends a six-week run of weekly purchases, dating back to Oct. 6.
The Tysons Corner, Virginia-based firm holds 649,870 bitcoin with an average cost basis of $74,433 per coin, according to the Strategy dashboard.
The pause comes as MSTR trades roughly 70% below its all-time high, with its multiple to net asset value (mNAV) sitting just above 1, the lowest level of the current cycle.
The company is also contending with market chatter about potential exclusion from major equity indexes, a threat serious enough to draw the ire of Saylor last week.
Shares are up 1.5% early Monday alongside a small rise in the price of bitcoin over the weekend to the current $86,200.
Read more: JPMorgan Warns MSCI Decision Could Force Strategy Out of Top Equity Indices
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