Archive · 9 Nov 2025
Year's Hottest Crypto Trade Crumbles as Prices Tumble
Imagine you could invest in a company that only buys a popular toy, like bitcoin.
For a while, many people thought buying shares of these companies was a great way to make money, even more than just buying the toy itself.
So, people started buying shares of these companies, making them very valuable.
But recently, the price of the toy (bitcoin) has gone down a lot.
This means the companies that only own the toy are now worth less.
Some investors are sad, but others, like the founder of MicroStrategy, still believe the toy will become popular again and are buying more.
Some experts think it was a bad idea to pay extra for these companies in the first place when you could just buy the toy directly.
The strategy of investing in companies that hold cryptocurrencies (crypto-treasury companies) is faltering as the prices of bitcoin and ether decline.
Shares of major crypto-treasury companies like MicroStrategy (Strategy) have seen significant drops from their peaks.
Prominent investors, including Peter Thiel and venture capitalist Michael Saylor, are affected by this downturn.
Skeptics argued that crypto-treasury companies traded at an unsustainable premium to the value of their crypto holdings.
Factors contributing to the selloff include falling crypto prices and broader economic uncertainties, though some investors remain optimistic about future rebounds.
- Who
- Investors in crypto-treasury companies, including Michael Saylor (MicroStrategy), Peter Thiel, Tom Lee, Matthew Tuttle, and individual investors.
- What
- Shares of crypto-treasury companies, which invest in bitcoin and ether, are plummeting as the price of these cryptocurrencies falls.
- When
- The trend of investing in crypto-treasury companies was popular for much of the year, with the selloff accelerating in the past month.
- Where
- This trend and its subsequent downturn are impacting the cryptocurrency market globally.
- Why
- The decline is attributed to falling prices of bitcoin and ether, the premium at which these companies' shares traded over their underlying assets, and broader market concerns including trade tariffs, government shutdowns, and Federal Reserve policy.
- Strategy's Peak Value
- $128 Billion (July)
- Strategy's Current Value
- $70 Billion
- Bitcoin Price Change (Past Month)
- -15%
- Strategy Stock Change (Past Month)
- -26%
- BitMine Immersion Technologies Change (Past Month)
- -30%+
- ETHZilla Change (Past Month)
- -23%
- Matthew Tuttle's MSTU ETF Change (Past Month)
- -50%
- Strive Stock Change (Past Month)
- -28%