December 1, 2025. Strategy Bitcoin accumulation machine showed no signs of slowing as the company disclosed a new purchase of 130 BTC. At the same time, the firm reduced its internal 2025 year-end Bitcoin forecast, adjusting from October’s $150,000 target to a more conservative $85,000 to $110,000 range.
Key Takeaways
- Strategy added 130 BTC to its treasury, bringing holdings to 255,130 Bitcoin.
- The firm lowered its 2025 BTC target from $150,000 to a new $85,000–$110,000 range.
- Revised expectations reflect macro uncertainty and a slower institutional ramp.
- Debt-funded BTC buys continue despite a high cost basis near $62,000.
- Strategy now controls roughly 1.3 percent of all BTC that will ever exist.
The dual update offers a measured signal to markets. Strategy remains committed to Bitcoin as a long-term reserve asset, yet acknowledges that macroeconomic turbulence and delayed rate cuts are likely to moderate near-term upside.
A $65,000 Trim in 2025 Bitcoin Expectations
The revised forecast appeared in a regulatory filing and reflects shifting institutional sentiment. Inflation remains above target, bond markets show limited confidence in aggressive easing, and regulatory uncertainty continues to weigh on U.S. crypto firms.
Michael Saylor has long maintained that Bitcoin’s institutional era would unlock trillions in inflows. While he still projects multi-trillion-dollar adoption over the decade, Strategy’s updated forecast suggests a more gradual ramp. Even the lower band implies strong performance from current levels around $63,000, but the adjustment signals a pragmatic shift toward realism.
Strategy’s 2025 Buying Spree So Far
Despite the softened outlook, Strategy continues its dollar-cost-averaging approach with conviction. Monday’s 130-BTC acquisition, worth about $8.2 million, lifts total reserves to approximately 255,130 coins. That equates to nearly 1.3 percent of Bitcoin’s fixed supply.
Below is the company’s disclosed 2025 purchase activity:
Strategy’s treasury now exceeds $16 billion at current valuations, surpassing its own market capitalization.
Market Signals and Implications for Institutions
Strategy’s moves often ripple beyond its own balance sheet. ETF issuers, miners, and corporate treasuries track the firm’s decisions as a directional signal. Monday’s purchase shows continued high-time-preference demand, while the target cut sets more conservative expectations for next year’s market structure.
The company now represents a historic anomaly: a public firm whose Bitcoin holdings exceed 120 percent of its market value. Whether this becomes a model for future treasuries or a cautionary tale depends on where Bitcoin closes 2025 relative to the newly adjusted range.
