Strategy has sharply reduced its Bitcoin acquisition pace, purchasing only 135 BTC in December 2025 compared to 134,000 BTC at its 2024 peak. The company raised over $1.44 billion in equity to establish a dollar reserve covering preferred stock dividends and bond interest for 12 to 24 months. CryptoQuant data show monthly acquisitions declined from 134,000 BTC during the 2024 peak to 9,100 BTC in November 2025.

Bitcoin's failure to break through $94,000 on December 3 has left more than a quarter of circulating supply in unrealized loss. On-chain data show the cryptocurrency fell below the 0.75 cost-basis quantile in mid-November, a threshold where three-quarters of supply remains profitable. The current structure presents elevated risk as price remains below critical cost-basis levels identified by quantile analysis.

Binance founder Changpeng Zhao and economist Peter Schiff debated the merits of Bitcoin and gold as stores of value, focusing on verification methods and practical utility. CZ highlighted Bitcoin's instant blockchain verification and global payment capabilities, while Schiff defended gold's physical properties and industrial applications. Bitcoin has gained 377% over five years compared to gold's 127%, though gold leads in 2025 with approximately 59% year-to-date gains.

Strategy Inc. has transferred 11,642 Bitcoin valued at approximately $1 billion to Fidelity's custody services, bringing its total deposits with the asset manager to roughly 177,351 BTC worth around $16.5 billion. Mizuho Financial Group maintained its buy rating on Strategy with a $484 price target. Analyst James E. Thorne identified the stock's approach to its rising 200-week moving average as a potential entry point.

Washington state's Department of Financial Institutions issued a Temporary Cease and Desist Order against Bitcoin ATM operator Coinme on December 1, 2025. The Seattle-based company must halt money transmission services and return over $8 million to customers. The regulator alleges the firm illegally converted unredeemed customer funds into corporate revenue, violating the state's Uniform Money Services Act.

Ripple CEO Brad Garlinghouse projected Bitcoin will reach $180,000 by the end of 2026, speaking at Binance Blockchain Week. He cited improved U.S. regulatory clarity and strong macroeconomic tailwinds as primary drivers. Bitcoin currently trades at $93,465 following recent market volatility.

Strategy has set aside $1.44 billion in cash to cover dividend payments on preferred stock and interest obligations for at least 12 months, data show. The reserve represents a structural shift from the company's historical practice of channeling capital primarily into Bitcoin accumulation. Monthly BTC purchases dropped from 134,000 BTC in 2024 to 9,100 BTC in November 2025.

Bitcoin recovered from $86,286 on December 2 to $93,324, gaining 8%, while American Bitcoin (ABTC) shares dropped as much as 50% intraday. The divergence reflects different catalysts: Bitcoin benefited from improved macroeconomic conditions and Vanguard's expanded crypto ETF access. ABTC suffered from a lock-up expiry that flooded the market with previously restricted shares.