TechFlow News: On February 6, Sean Stein Smith, a member of the Wall Street Blockchain Alliance’s Advisory Committee, published an article titled “Bitcoin’s Decline Is Not the End of Cryptocurrency” in Forbes. The article notes that although Bitcoin has sharply retreated from its all-time high at the end of 2025 and market sentiment has grown increasingly pessimistic, market participants view this downturn not as the end of the cryptocurrency industry’s cyclical development. Rather, fundamental industry conditions and institutional participation continue to strengthen, and the long-term growth logic remains fundamentally intact.
Institutional adoption continues to advance, with traditional financial institutions intensifying their engagement in on-chain asset ecosystems—including the New York Stock Exchange’s exploration of blockchain-based exchanges and Fidelity’s plan to launch the Fidelity Digital Dollar (FIDD), a stablecoin built on the Ethereum network. Although Strategy’s Bitcoin holdings are currently showing unrealized losses at prevailing prices, market analysis indicates its financial structure remains sound: most of the company’s Bitcoin assets are unencumbered, and its convertible bonds feature long maturities—meaning no near-term liquidity pressure or risk of forced liquidation. Consequently, Strategy maintains its long-term bullish stance on Bitcoin.
