MicroStrategy Chair Michael Saylor Acknowledges Crypto Winter

Key Insights:

• MicroStrategy just added 2,486 BTC, reinforcing long-term conviction.
• Michael Saylor calls this crypto winter the shortest and mildest yet.
• Whale accumulation and undervaluation metrics signal a potential market recovery.

Bitcoin price continues to struggle to stay above $70,000, and the market struggles to find a directional footing. Nevertheless, MicroStrategy chairman Michael Saylor told FOX Business that this crypto winter is different and that it will not last for long.

Michael Saylor Breaks Down the Current Crypto Winter

Speaking in a live appearance on FOX Business’s The Claman Countdown, the MicroStrategy CEO called the current market-wide drawdown the fifth major crypto winter in the last five years.

Saylor stated that the current crypto winter may be the shortest of the 5 major drawdowns in the last 5 months. His comments come after data showed that Bitcoin is on the path to experience the sharpest consecutive downtrend since 2018.

MicroStrategy Chair | Source: X

Despite this statistic, Saylor pointed to real changes in the crypto space as signs that the current bear market is “mild”. This includes a pro-crypto U.S. administration, cabinet picks, and banks shifting from hostility to building Bitcoin infrastructure.

Capital is gradually flowing back into the crypto market despite fear dominating the headlines. MicroStrategy chair believes that this could set the pace for recovery, especially since smart money accumulates during crypto winter.

CryptoQuant data supports Saylor’s thesis. Analyst Crypto Dan noted that Bitcoin was approaching the undervalued zone as the Bitcoin MVRV fell towards 1. When this metric drops below 1, it signals that prices are falling into undervalued territory.

Bitcoin MVRV Ratio | Source: CryptoQuant

At the same time, large accumulator addresses have been increasing their Bitcoin accumulation. CryptoQuant data shows they have accumulated over 372,000 BTC as of February 17, 2026.

These addresses had only 10,000 BTC, at the tail end of December, meaning they have increased their holding by over 3,200% in just a little under two months.

MicroStrategy Adds 2,486 BTC in Latest Buy

Strategy remained true to form; in its latest buy, it scooped up another 2,486 BTC for $168 million. This brings its total holding to 717,131 BTC.

That is the second-largest corporate Bitcoin stash in the world after BlackRock. Nevertheless, MicroStrategy’s recent Bitcoin purchases have not only narrowed the gap with BlackRock but also lowered its average cost basis.

The company’s current average price is around $76,000 per coin. This means Bitcoin was down by about 12% from Strategy’s average cost basis price.

This was the first time since September 2023 that MicroStrategy’s average BTC purchase price has gone down. This recent purchase has brought the average cost basis down by $29 to $76,027.

Source: X

The MicroStrategy stock (MSTR) price mirrored the current crypto consolidation. Shares have chopped sideways in the past couple of weeks, bouncing between roughly $120 and $140.

MSTR has notably been trading at a slight premium after previously bottoming out at $104 on 5 February. The last time MSTR price was that low was during the August 2024 crash.

MSTR stock price | Source: TradingView

MSTR price has been trading below the 50-day, 100-day, and 200-day Moving Averages. This means MicroStrategy stock was still in a bearish trend on both the short- and long-term time frames. Since MSTR closely follows Bitcoin, the future of the stock depends on how BTC will perform in the coming days.

Why Saylor Sees Summer Recovery Ahead?

Saylor’s core message was that institutions have been laying crypto rails while retail frets over red candles. Institutional interest, bank integrations, and policy tailwinds have been growing, and this winter lacks the regulatory hostility of past cycles. Fear index screams extreme red, but on-chain data shows Bitcoin whales are stacking.

With real adoption accelerating, MicroStrategy chair expects this drawdown to end faster than the others. Summer always follows winter, and for Bitcoin bulls, that means the next leg higher.

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