cointelegraph.com
Strategy executive chairman Michael Saylor and other prominent cryptocurrency executives lost billions of dollars in 2025, partially as a result of losses in an October flash crash.
According to the Bloomberg Billionaires Index released on Wednesday, Saylor lost $2.6 billion over the previous 12 months, reducing his net worth to $3.8 billion. Gemini co-founders Cameron and Tyler Winklevoss and former Binance CEO Changpeng “CZ” Zhao also saw significant losses due to a “massive slide” in the crypto market in October.
“[Strategy’s Bitcoin treasury strategy] generated huge returns through early October, when Bitcoin hit fresh highs,” Bloomberg. “However, things began to turn south soon after as a slump in Bitcoin’s value sent Strategy’s stock price plunging by more than half, dragging Saylor’s net worth down nearly $6 billion from its high-water mark in the process.”
While Bloomberg reported that eight people accounted for about 25% of the $2.2 trillion in gains among billionaires for 2025, many industry figures lost big over the year. The news outlet reported last week that Zhao lost about 5% of his net worth, estimated at $50.9 billion, since Jan. 1, while the Winklevosses lost 59% over the same period.
Related: Strategy accumulates over 22,000 Bitcoin, RWAs top $19 billion: December in Charts
In contrast, Circle CEO Jeremy Allaire reportedly increased his net worth by 149% since June 4, amid the US government passing a comprehensive payment stablecoin bill, the GENIUS Act.
Number of digital asset treasuries surged this year
In addition to Strategy increasing its Bitcoin ($BTC) holdings, several other companies adopted crypto treasury strategies in 2025, holding $BTC or other tokens on their balance sheets. According to data from Bitcointreasuries.net, about 192 public companies held $BTC as of Wednesday.
The price of Bitcoin has declined by about 7% since Jan. 1, 2025. The cryptocurrency reached an all-time high of over $126,000 in October before falling to about $80,000 at the end of November.
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