Bitcoin Market Bleeds $1 Trillion, Saylor Signals Strongest Crypto Conviction Yet

[Ben Graham]

Michael Saylor kept buying while the market slid, and he did it out loud: “Neven been more bullish,” he said in an X post Thursday. His public posts and regulatory filings show Strategy continued to add to its Bitcoin pile even as price swings turned paper gains into big unrealized losses.

The firm’s recent regulatory filing confirms a fresh purchase this month, while market reports and accounting disclosures show the wider hit to corporate treasuries.

Market Value Drop Shakes Portfolios

Bitcoin has shed roughly $1.2 trillion of market value since October 2025, and the wider crypto market has lost about $2 trillion in the same stretch.

Prices that once pushed Bitcoin past $126,000 have fallen back toward the mid-$60,000s. That scale of decline has pushed several companies that used Bitcoin as a treasury asset into heavy mark-to-market losses, changing how investors view corporate crypto exposure.

Never Been More ₿ullish.

— Michael Saylor (@saylor) February 19, 2026

Strategy Keeps Buying

According to the company’s own filings, Strategy acquired 2,486 BTC for roughly $168 million during mid-February, bringing its holdings above 700k coins. The buy was announced in a Form 8-K and has been picked up across market outlets.

At the same time, accounting rules that require unrealized gains and losses to be reflected in reports mean the firm’s quarterly statements showed multibillion-dollar swings tied to Bitcoin’s price. That reality has put Strategy on the front lines of the debate over holding large crypto positions on balance sheets.

Price Action And Headlines Moved Markets

Bitcoin’s trading has been choppy. Headlines tied to geopolitics and macro policy moved traders, and low-volume sessions made swings feel bigger. ETF outflows and a string of liquidations amplified the slide.

Still, there were moments when buyers stepped in and pushed prices up briefly; those countermoves have been picked over by analysts hunting for a bottom.

Bullish Voices, Loud And Public

Eric Trump — speaking at an event at Mar-a-Lago — made a very bullish prediction that was reposted and amplified, and that kind of public optimism appears to have rubbed off on other high-profile backers.

Go bitcoin today. The money won’t fix itself.

— Michael Saylor (@saylor) February 13, 2026

Saylor reposted and echoed similar buy-the-dip messages, urging accumulation even as skeptics warned about the risks. At times political headlines tied to US President Donald Trump and related policy moves were singled out as part of the story behind the 2025 rally that preceded this correction.

Saylor’s latest comment shows he remains firmly confident in Bitcoin. Despite huge losses, he sees dips as buying chances and urges others to stay bullish, keeping his long-term conviction front and center.

Featured image from Gemini, chart from TradingView