Analysis: Strategy holdings are floating losses but without liquidity pressure; BTC decline is not a "cryptocurrency end."

Deep Tide TechFlow News, on February 6th, Sean Stein Smith, a member of the Wall Street Blockchain Alliance Advisory Committee, published an article in Forbes titled “Bitcoin’s Decline Is Not the End of Cryptocurrency,” which points out that although Bitcoin has significantly retreated from its historical high at the end of 2025 and market sentiment has become more pessimistic, market views believe that this decline does not signify a cyclical end for the crypto industry. The industry fundamentals and institutional participation are still strengthening, and the long-term development logic remains fundamentally intact.\n\nThe institutional adoption process is still progressing, with traditional financial institutions continuing to increase their on-chain asset ecosystems, including the NYSE exploring blockchain exchange-related initiatives and Fidelity planning to launch the Ethereum-based stablecoin Fidelity Digital Dollar (FIDD). Although Strategy Bitcoin holdings are currently showing unrealized losses at the current price, market analysis suggests that its financial structure remains robust. Most of the company’s Bitcoin assets are not collateralized, and the convertible bonds have longer maturities, so there is no short-term liquidity pressure or passive liquidation risk. The long-term bullish strategy on Bitcoin remains unchanged.