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The combined market capitalization of the top 50 companies holding BTC has fallen to $67 billion from $150 billion in July last year, meaning more than $80 billion has been wiped out since mid-2025, the Financial Times reported.
Among the 50 companies, 43 saw their share prices decline after announcing plans to buy BTC, and 35 of those posted drops of more than 50%. Companies that had relied on stock and bond issuance to fund BTC purchases in hopes of lifting their share prices have since faced declines in both BTC and their own stocks, along with tougher fundraising conditions. Some have sold part of their holdings and returned to their core businesses. Since July, the top 50 companies have turned into net sellers, offloading about 2,500 BTC more than they bought.