The wave of publicly listed bitcoin treasury companies that rode BTC’s climb toward a record 126,000 dollars in October 2025 is now unwinding rapidly, with multiple firms selling holdings, re
The wave of publicly listed bitcoin treasury companies that rode BTC’s climb toward a record 126,000 dollars in October 2025 is now unwinding rapidly, with multiple firms selling holdings, repaying debt, and in some cases abandoning the strategy entirely after bitcoin slumped roughly 50% from that peak.
According to VanEck Head of Digital Assets Research Matthew Sigel, several companies have exited crypto entirely or are cutting holdings substantially. The roll call of sellers is growing fast:
