38,657 BTC Wallet Movement Sparks Panic—Saylor Shuts Down ’Baseless’ Sell-Off Rumors

Bitcoin's bull market just got a stress test. A jaw-dropping 38,657 BTC transfer from a known institutional wallet triggered instant sell-off fears across crypto Twitter.

Enter Michael Saylor—MicroStrategy's unshakable Bitcoin maximalist—who slammed the speculation as 'complete nonsense.' The company's flagship corporate strategy? 'We're still buying,' Saylor confirmed, with the tone of a man who'd rather eat his own tie than sell a single satoshi.

Market watchers noted the timing: the whale move coincided with a 4% BTC price dip, proving once again that crypto markets still react to shadow plays more than fundamentals. Traders, meanwhile, did what they do best—overreact first, ask questions never.

One thing's certain: in a world where 'number go up' is the only theology that matters, Saylor remains the high priest of HODLing. Even if Wall Street still thinks he's running a leveraged BTC cult disguised as a software company.

The rumors of selling started just as BTC dipped under $95,000, causing further market panic. On social media, fake screenshots were distributed, suggesting Strategy may be dumping its BTC.

In the past 24 hours, Strategy’s wallets sent out seven large transactions, ending up in Coinbase Custody wallets. Some of the patterns are unusual, but traders urged to avoid panic and spreading fear. 

Recently, the company also saw its playbook structure under pressure, as the common stock MSTR dipped under the total estimated value of the BTC holdings. 

In total, Strategy moved $1.2B in BTC for the past day. Previously, internal moves were sent to self-custodied wallets, though Strategy has been known to also use Coinbase Custody.

Michael Saylor said Strategy is still buying

Michael Saylor denied the rumors of selling, stating that Strategy was ready to buy more BTC. He also urged BTC supporters to hold through the turbulence. 

We are ₿uying.pic.twitter.com/6g11E9G6pO

— Michael Saylor (@saylor) November 14, 2025

The rumors were dismissed as FUD, as Strategy is seen as a long-term holder, more likely to buy the dip than sell BTC holdings. For now, Strategy is holding for net gains, with an average acquisition price of $74,000.

Strategy’s MSTR threatens to slide below $200

The MSTR share price showed its correlation with BTC, extending its price drop from the past few days. 

MSTR slid to $201, a price range at which the common stock is not so useful for new BTC purchases. MSTR shares may see another BTC bear market, though Strategy has tried to offset the dilution and price weakness by offering new preferred shares. 

Strategy’s MSTR also fell after large-scale holders divested in Q3. Capital International Investors, Vanguard, and BlackRock each sold over $1B in MSTR holdings. In total, Wall Street firms divested over $5.38B in MSTR shares. 

The biggest worry for Strategy is that it WOULD need to raise new funds to pay previous obligations, including servicing debt and paying out dividends. The company raised over $700M from its STRE product, and some of the funds would go toward paying for other convertible stocks. In the absence of a BTC bear market, this approach has led to skepticism about Strategy’s playbook viability. 

Overall, Strategy does not have direct obligations where it has to liquidate BTC to cover debt. However, the company may be pressured for cash, as it has launched products with significant demands for mandatory dividends.

If you're reading this, you’re already ahead. Stay there with our newsletter.