Strategy Executive Chairman Michael Saylor and other prominent crypto executives lost billions of dollars in 2025, due in part to losses in the October flash crash.
Saylor has lost $2.6 billion in the past 12 months, reducing his net worth to $3.8 billion, according to the Bloomberg Billionaires Index released Wednesday. Gemini co-founders Cameron and Tyler Winklevoss and former Binance CEO Changpeng “CZ” Chao also suffered significant losses due to the “massive decline” in the crypto market in October.
“(Strategy’s Bitcoin treasury strategy) generated huge profits through early October, when Bitcoin hit a new all-time high,” Bloomberg said. “But things started to go south soon after, as the fall in the value of Bitcoin caused Strategy’s stock price to fall by more than half, and Thaler’s net worth to fall by nearly $6 billion from its peak in the process.”
Bloomberg reported that eight people accounted for about 25% of billionaires’ $2.2 trillion in profits in 2025, but many in the industry suffered significant losses over the past year. The news agency reported last week that Mr. Zhao has lost about 5% of his estimated $50.9 billion net worth since January 1, while the Winklevosses have lost 59% in the same period.
Related: Strategy Accumulates Over 22,000 Bitcoins, RWA Exceeds $19 Billion: December Chart
In contrast, Circle CEO Jeremy Allaire has reportedly seen his net worth increase by 149% since June 4 as the US government passes the GENIUS Act, a comprehensive payment stablecoin bill.
The number of digital asset vaults has soared this year
In addition to Strategy increasing its Bitcoin (BTC) holdings, several other companies have adopted crypto asset strategies in 2025 and held BTC or other tokens on their balance sheets. According to data from Bitcointreasuries.net, about 192 publicly traded companies hold BTC as of Wednesday.
The price of Bitcoin has fallen by approximately 7% since January 1, 2025. Bitcoin reached an all-time high of over $126,000 in October, but fell to around $80,000 by the end of November.
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