Michael Saylor signaled continued confidence in Bitcoin during a sharp market drawdown, disclosing a fresh mid-February purchase even as crypto volatility drove large swings in corporate results and investor sentiment.
Fresh Filing Shows February Buy
According to a regulatory filing, Saylor’s company acquired 2,486 BTC in mid-February for approximately $168 million, bringing its total holdings to more than 700,000 BTC. The purchase was disclosed in a Form 8-K and circulated widely in market reports.
Saylor amplified his stance publicly on X, writing “Never been more bullish” on February 19, 2026, and urging accumulation earlier in the month: “Go bitcoin today. The money won’t fix itself.”
Market Value Drop Reshapes Treasury Risk
Since October 2025, Bitcoin has shed roughly $1.2 trillion in market value, while the broader crypto market has declined by about $2 trillion, by market estimates. After climbing past $126,000, Bitcoin retreated into the mid-$60,000s, intensifying scrutiny of companies that hold the asset on their balance sheets.
Accounting rules that require unrealized gains and losses to flow through financial reports have magnified headline swings for crypto-exposed corporates, placing Saylor’s firm at the center of an ongoing debate over the role of digital assets in corporate treasuries.
Volatility Drivers: Policy, ETFs, and Liquidations
Bitcoin trading has been choppy amid low-liquidity sessions and shifting macro and geopolitical headlines. Net outflows from spot ETFs and a string of leveraged liquidations accelerated the slide, though brief rebounds drew dip buyers and analysts searching for signs of a bottom.
Political developments and related policy speculation—at times tied to Donald Trump—were frequently cited as contributors to the 2025 rally narrative that preceded the current correction.
Public Bullishness Persists
High-profile optimism remained loud and visible, with bullish predictions shared at prominent events and amplified online. Saylor continued to advocate buying on weakness, keeping long-term conviction in focus despite heightened volatility and deep mark-to-market losses across portions of the corporate sector.