Crypto-Treasury Stocks Fall as Bitcoin Drops—Strategy Market Cap Slides to $70 Billion

Shares of companies holding Bitcoin and Ether as treasury assets have declined sharply following recent cryptocurrency price drops. Strategy, formerly MicroStrategy, saw its market capitalization fall from approximately $128 billion in July to around $70 billion. Peter Thiel-backed firms BitMine and ETHZilla dropped over 30% and 23% respectively in the past month, according to market data.