Michael Saylor continued to buy as the market slid, and he did it out loud: “I didn’t even get more bullish,” he said in an X article on Thursday. Its public postings and regulatory filings show that Strategy continued to add to its Bitcoin stack, even as price swings turned paper gains into big unrealized losses.
The company’s recent regulatory filing confirms another purchase this month, while market reports and accounting information show the broader hit to corporate treasuries.
Falling market value shakes wallets
Bitcoin has lost around $1.2 trillion in market value since October 2025, and the broader crypto market has lost around $2 trillion over the same period.
Prices that once pushed Bitcoin past $126,000 have fallen back to the mid-$60,000s. This magnitude of decline caused several companies that used Bitcoin as a treasury asset to suffer large mark-to-market losses, changing the way investors view companies’ exposure to crypto.
The strategy continues to buy
According to the company’s own filings, Strategy acquired 2,486 BTC for approximately $168 million in mid-February, bringing its holdings above 700,000 coins. The purchase was announced on a Form 8-K and was reported at all points of sale.
At the same time, accounting rules that require unrealized gains and losses to be reflected in reporting mean the company’s quarterly filings have shown multibillion-dollar fluctuations linked to the price of Bitcoin. This reality has put Strategy at the forefront of the debate over holding large crypto positions on balance sheets. Price action and headlines moved markets
Bitcoin trading has been volatile. Headlines related to geopolitics and macroeconomic policy stirred traders, and low-volume sessions made swings appear larger. ETF exits and a series of liquidations amplified the decline.
Still, there have been times when buyers have stepped in and briefly pushed prices up; these countermoves were picked up by analysts looking for a bottom.
Bullish, loud and public voices
Eric Trump – speaking at an event at Mar-a-Lago – made a very optimistic prediction that was republished and amplified, and that kind of public optimism seems to have rubbed off on other high-profile donors.
Saylor reposted and echoed similar messages of buying the dip, calling for accumulation even as skeptics warned of the risks. At times, political headlines related to U.S. President Donald Trump and related policy actions have been singled out as part of the story behind the 2025 rally that preceded this correction.
Saylor’s latest comment shows that he remains firmly confident in Bitcoin. Despite huge losses, he views dips as buying opportunities and urges others to remain optimistic, keeping his long-term conviction at the forefront.
Featured image of Gemini, chart by TradingView
