🚨 Bitcoin Treasury Stocks Lose $83 Billion in 13 Months
The combined market cap of the 50 largest public companies holding Bitcoin has plunged from $150 billion to $67 billion over the past 13 months, a decline of about $83 billion.
Strategy alone accounted for roughly $79 billion of the sector’s total market cap decline and has sold Bitcoin four times since late June, after previously maintaining a “never sell” stance.
The pressure is spreading across the sector. 43 of the top 50 Bitcoin treasury companies now trade below their pre pivot share prices, while the group became net Bitcoin sellers for the first time in July 2026.
Adding to the pressure, MSCI is consulting on index methodology changes that could remove Strategy and similar companies from global equity benchmarks by mid October, potentially creating further passive fund selling.
The combined market cap of the 50 largest public companies holding Bitcoin has plunged from $150 billion to $67 billion over the past 13 months, a decline of about $83 billion.
Strategy alone accounted for roughly $79 billion of the sector’s total market cap decline and has sold Bitcoin four times since late June, after previously maintaining a “never sell” stance.
The pressure is spreading across the sector. 43 of the top 50 Bitcoin treasury companies now trade below their pre pivot share prices, while the group became net Bitcoin sellers for the first time in July 2026.
Adding to the pressure, MSCI is consulting on index methodology changes that could remove Strategy and similar companies from global equity benchmarks by mid October, potentially creating further passive fund selling.
