diff --git a/docs/changelog.md b/docs/changelog.md
index 9c074b20b..25ff4047a 100644
--- a/docs/changelog.md
+++ b/docs/changelog.md
@@ -10,6 +10,12 @@ and this project adheres to the
 [Python Version Specification](https://packaging.python.org/en/latest/specifications/version-specifiers/).
 See the [Contributing Guide](contributing.md) for details.
 
+## [Unreleased]
+
+### Fixed
+
+* Ensure nested elements inside inline comments are properly unescaped (#1571).
+
 ## [3.10.0] - 2025-11-03
 
 ### Changed
diff --git a/markdown/inlinepatterns.py b/markdown/inlinepatterns.py
index 13b3c35f8..9f24512bf 100644
--- a/markdown/inlinepatterns.py
+++ b/markdown/inlinepatterns.py
@@ -520,7 +520,8 @@ def get_stash(m: re.Match[str]) -> str:
             value = stash.get(id)
             if value is not None:
                 try:
-                    return self.md.serializer(value)
+                    # Ensure we don't have a placeholder inside a placeholder
+                    return self.unescape(self.md.serializer(value))
                 except Exception:
                     return r'\%s' % value
 
diff --git a/tests/test_syntax/inline/test_raw_html.py b/tests/test_syntax/inline/test_raw_html.py
index 57d725e7e..79d49a507 100644
--- a/tests/test_syntax/inline/test_raw_html.py
+++ b/tests/test_syntax/inline/test_raw_html.py
@@ -34,3 +34,9 @@ def test_inline_html_backslashes(self):
 
     def test_noname_tag(self):
         self.assertMarkdownRenders('<span></></span>', '<p><span>&lt;/&gt;</span></p>')
+
+    def test_markdown_nested_in_inline_comment(self):
+        self.assertMarkdownRenders(
+            'Example: <!-- [**Bold link**](http://example.com) -->',
+            '<p>Example: <!-- <a href="http://example.com"><strong>Bold link</strong></a> --></p>'
+        )