MicroStrategy, led by Michael Saylor, appears to be shifting its Bitcoin strategy from aggressive accumulation to a more cautious approach focused on balance-sheet protection, according to a CryptoQuant report. The company has established a separate USD reserve and is considering hedging or selling in stressed market conditions. Despite this strategic shift, Polymarket traders anticipate that MicroStrategy will continue making routine small Bitcoin purchases, with only a 40%–45% probability of acquisitions exceeding 1,000 BTC. The average purchase size has decreased significantly from 15,133 BTC in 2024 to 5,330 BTC in 2025, amid the weakest DAT inflows since mid-June.