Key Takeaways
- Bitcoin fell below $89,000 for the first time in three months.
- Strategy purchased $2 billion worth of Bitcoin despite the dip.
- The Crypto Fear and Greed Index hit 25, signaling extreme fear.
Bitcoin tumbled below $89,000 on Feb. 25, marking its lowest price in three months and triggering widespread market uncertainty.
The drop of over 7% led to renewed calls to “buy the dip” from prominent figures.
Notable Reactions
MicroStrategy Executive Chairman Michael Saylor suggested another Bitcoin purchase by posting on X:
Bitcoin on $ale.
₿itcoin on $ale
— Michael Saylor⚡️ (@saylor) February 24, 2025
Similarly, Eric Trump, son of former President Donald Trump, weighed in with a simple message:
Buy the dips!!!
The ₿est Advice https://t.co/e7b3f8BbyU
— Michael Saylor⚡️ (@saylor) February 25, 2025
However, not everyone shared their optimism.
Gold advocate and Bitcoin critic Peter Schiff responded:
Next comes the fire sale. If you’re going to gamble on Bitcoin, you may as well hold out for that.
Next comes the fire sale. If you going to gamble on Bitcoin you may as well hold out for that.
— Peter Schiff (@PeterSchiff) February 25, 2025
Strategy’s latest purchase
Despite the price drop, Saylor’s company, now called Strategy, continued its aggressive Bitcoin accumulation.
On Monday, the firm announced a $2 billion Bitcoin purchase, adding 20,365 BTC at an average price of $97,514 per coin.
This aligns with the company’s “21/21” plan to amass $42 billion worth of Bitcoin over three years.
Following its latest purchase, Strategy now holds 499,096 BTC, valued at $47 billion, making it the largest corporate Bitcoin holder with 2.4% of the total supply.
Market impact
The price drop wasn’t limited to Bitcoin.
Ethereum (ETH) fell 10.5% to $2,388, while Solana (SOL) declined 13% to $137.87.
Bitcoin’s market capitalization shrank to $1.76 trillion.
The Crypto Fear and Greed Index, which tracks investor sentiment, hit 25, indicating extreme fear in the market.
