The cryptocurrency market is facing a significant downturn, with Bitcoin (BTC) dropping more than 10% in the past 24 hours, falling to a low of $82,858. This decline comes amid a broader market sell-off, which has led to over $1 billion in liquidations, with Bitcoin accounting for a large portion of that total at $372 million. As the market reacts to this sharp price movement, prominent figures like Michael Saylor, the chairman of Strategy, have taken to social media to express their perspectives on the current situation.

Michael Saylor, a staunch advocate for Bitcoin, shared his thoughts on the market’s turbulence by referencing the ideals of Bitcoin’s creator, Satoshi Nakamoto. In a tweet, Saylor wrote, “Satoshi started a fire in cyberspace. While the fearful run from it and fools dance around it, the faithful feed the flame, and dream of a world bathed in the warm glow of cyberlight.” This statement reflects his long-term belief in Bitcoin’s potential, suggesting that, while market downturns often trigger panic and fear, those who truly understand the value of Bitcoin continue to accumulate and support it. For Saylor, the volatility seen in the short-term market doesn’t deter his conviction about Bitcoin’s eventual transformative power.

Bitcoin’s latest price decline follows an initial surge that took the cryptocurrency to $95,128 on Sunday. This increase came after the declaration of a U.S. strategic crypto reserve, which initially fueled excitement among traders. However, the momentum quickly reversed, with Bitcoin dipping back down to $85,007 on Monday as broader macroeconomic concerns overshadowed the enthusiasm. By Tuesday, Bitcoin’s price dropped further to $82,252, signaling continued uncertainty in the market.

Despite the recent declines, Saylor’s firm, Strategy, remains steadfast in its belief in Bitcoin’s long-term prospects. On Monday, Strategy confirmed that it had not sold any Class A common stock nor bought any Bitcoin last week. As of March 2, 2025, the company holds 499,096 BTC, valued at approximately $33.1 billion, with an average purchase price of $66,357 per Bitcoin. This marks a rare instance where Strategy didn’t add more Bitcoin to its holdings, as the company has been actively acquiring Bitcoin since late 2024. In fact, just a few weeks ago, between February 18 and February 23, Strategy added 20,356 Bitcoin to its portfolio for nearly $1.99 billion, at an average price of $97,514.

Saylor’s long-term commitment to Bitcoin is evident in his company’s consistent buying activity, which has remained uninterrupted despite market fluctuations. The recent purchase of Bitcoin, even during a period of volatility, underscores Saylor’s belief in Bitcoin as a store of value and a key asset for the future. This consistent buying is a clear message to the market that, while short-term price movements may be unpredictable, Bitcoin’s potential to reshape global finance remains unchanged in Saylor’s view.

The ongoing volatility in Bitcoin’s price illustrates the challenges the cryptocurrency market faces. Yet, for long-term holders and advocates like Saylor, the focus is not on daily price fluctuations but on the broader vision of a decentralized digital currency that can change the global financial system. Saylor’s remarks serve as a reminder that, even in the face of market turbulence, true believers continue to invest in Bitcoin, confident that its value will continue to rise over time.

As the market braces for further price swings, the reactions of key figures like Saylor will continue to shape the narrative around Bitcoin’s future. Despite short-term volatility, Saylor’s confidence in Bitcoin as a long-term asset remains unwavering.