Michael Saylor, the steadfast Bitcoin evangelist behind Strategy (formerly MicroStrategy), is one of the most explosive figures in the tumultuous world of Bitcoin trading. As of November 3, 2025, his company’s unrelenting BTC treasury builds have made Strategy the ultimate HODL proxy for cryptocurrency, with 641,205 coins valued at over $59 billion. A recurring FUD storm, however, brewing with every announcement. Are Saylor’s purchases covertly dumping on retail? Do they set off a series of liquidations? There are rumors of debt traps, forced sales, and a “Saylor squeeze” that could drive Bitcoin below $50k.
The myth was rekindled on November 17, 2025, when Bitcoin was trading at about $93,400, down 24% from October highs due to fears of tariffs and $2.3 billion in ETF withdrawals. Despite the fact that prices fell 8% during the window, which fueled accusations of manipulation, Strategy recently announced its biggest purchase since July: 8,178 BTC for $835.6M. Bulls call the cries of bears about $42 billion in debt forcing liquidations baseless.
This article breaks through the FUD by referencing Saylor’s own rebuttals, SEC filings, and on-chain data. As a spoiler alert, correlation does not equate to causality. Not Strategy’s treasuries, but Saylor’s announcements, use timing and psychology to liquidate overleveraged traders. Let’s dispel this, one step at a time.
1. The Myth’s Origins: Rumors, FUD, and Leverage Fears
Half-truths that are accentuated by headlines and social media feed the narrative. The main causes include wallet movements that are misinterpreted as dumps, such as the 47,000 BTC shuffles for custody on November 14 that caused a drop below $97K and $1.1B in liquidations in spite of no sales. There is no truth to this rumor,” Saylor retorted, confirming accelerated buys in its place.
Debt or the liquidation risk hysteria is a contributing factor. Experts warn that if prices fall, Strategy’s $42 billion+ in debt (convertibles, preferred stocks like STRD/STRF) might force the sale of Bitcoin for instance to 1K if converts are not paid. Nevertheless, the absurdly low thresholds (~$10K to $15K BTC) are refuted by Saylor’s “never sell” structure (no margin calls). The “collapse” talk was momentarily stoked by the rare 0.94x discount, but mNAV recovered to 0.95x after the purchase.
Did the announcements contain any dumps? In fact, in a single day, “Saylor traps” cause roughly 60% of purchases to react with -1 to 10% BTC. OTC purchases delay the spot impact, but in reality, profit-taking and macro (Fed, tariffs) dominate. “X” is a social echo chamber that combines hype (MSTR: levered BTC without liquidation risks) with doomsaying (mNAV to 0.2, BTC <1K). Saylor accelerates purchases by rejecting the $1 billion to $2 billion weekly sales reports.
Although the margin call panic of 2022 was similar to the one that occurred today, Strategy is still effective, with a 27.8% YTD Bitcoin yield.
2. Saylor’s Buy Coincide, But Don’t Cause Cascades
- The 2024–2025 strategy added about 290,000 BTC: 641,205 at an average cost of about $66,500, with $25 billion in unrealized gains. A backstop, not a bomb, buys cluster during volatility, absorbing between 0.1 and 0.04% of liquidated supply per event.
Major purchases compared to liquidations show coincidence rather than causation. On Nov. 17, 2025, for example, Strategy won 8,178 BTC at an average of $102,171 ($835.6M), which was equivalent to $243M BTC liqs in a 24-hour period. In just one hour, Bitcoin fell 7.9% to $94,090, but the buy offset 65% of net exchange inflows as broader $1.2B cryptocurrency liqs from tariff escalations overtook it.
- 487 BTC at $102,557 ($50M) on November 10th: Earlier bucked with +3.7% to $106,408, but mNAV dropped to 0.95x stirring FUD. Following the announcement, prices increased 3.7% to $115,107, shortening the cascade from the $19 billion October event.
- On October 27, 390 BTC at $111,053 ($43M) matched $150M liqs from October 21.
- After $5.37B liqs from October 10–11 (Trump tariffs): October 13 saw 220 BTC at $123,561 ($27M); after the buy, BTC dropped 7.2% to $114,627, but then rebounded by 20%. A slight -0.9% decline to $112,060 from miner sales.
- Not strategy, occurred on September 29 when 196 BTC at $113,048 ($22M) overlapped $285M liqs from September 24.
- Scaling up, 13,390 BTC at $99,856 ($1.34B): on May 12 touched the bull phase without significant liqs. The price of $7,633 BTC on February 11 at $85,000 ($650M) stabilized the first quarter after the election.
- The largest of 2024, 27,200 BTC from October 31 to November 10 at about $74,500 ($2.03B), front-ran $430M on November 26 liqs, limiting the decline to 6%.
Although “vulture” always plays after the dip, about 60% of liqs overlap with liqs across events. Change on average one hour after announcement. Recent purchases of -1.8% compared to $30B+ 2024–2025 BTC liqs. Strategy’s $42B+ purchases made up about 2.8% of the daily volumes of $100B+. Rather than using consistent, causal pumps, use OTC stealth + external FUD invert.
3. Why No Pump, But Dips? The Real Cascade Drivers
- Scale discrepancy: $50M–$835M purchases = 0.05–1% daily volume. Miners (450 BTC/day) and ETFs ($2.3B outflows/week) are overpowered. In terms of psychology and mechanics, announcements cause people to “sell the news” (70% longs liquidated in dips). The bid visibility is delayed by OTC.
- Macro overhang: the Fed, tariffs, and geopolitics (reverberations between the US and Iran) are the main motivators. On November 17, the risk-off liqs worth over $500 million are not Saylor. Lack of liquidation reality: Saylor admits that shareholders “struggle” in bear markets that last for several years, but no forced sales have occurred as yet; debt steers clear of calls.
The reason the myth endures is that Saylor’s Strategy makes money. Retail panics over rumors, bears short MSTR (premium erosion).
Conclusion
Saylor Bitcoin purchases FUD is classic noise. The announcements liquidate traders via timing and psychology, not treasuries. Amid the $1.1 billion chaos, Strategy’s $835 million purchase in November 2025 is Hero Act, not villain but absorption. It’s HODL fuel with 641K BTC held steady, no sales, and strong on-chain bids. Do-it-yourself, not advice. Keep an eye on @saylor X page for myth-busters.
For more BTC FUD debunked, visit our Bitcoin Strategy Guides.
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