diff --git a/mautrix_telegram/formatter/from_telegram.py b/mautrix_telegram/formatter/from_telegram.py
index 3d7835b9..60de316b 100644
--- a/mautrix_telegram/formatter/from_telegram.py
+++ b/mautrix_telegram/formatter/from_telegram.py
@@ -245,7 +245,7 @@ async def _telegram_entities_to_matrix(
     ) -> str:
         if escape_html:
             val = escape(val)
-        if _in_codeblock:
+        if not _in_codeblock:
             val = val.replace("\n", "<br/>")
         return val