Bloomberg: Crypto Billionaires Among 2025’s Biggest Losers
Crypto industry billionaires were among the largest wealth decliners in 2025, with several high-profile executives losing billions amid October’s flash crash, according to the Bloomberg Billionaires Index published on Wednesday. The index shows Strategy executive chairman Michael Saylor’s fortune fell by $2.6 billion over the past 12 months, cutting his net worth to $3.8 billion. Gemini co-founders Cameron and Tyler Winklevoss and former Binance CEO Changpeng “CZ” Zhao also recorded sizable declines following a “massive slide” in digital asset markets in October.
Bloomberg reported that Strategy’s Bitcoin treasury approach delivered strong gains through early October, when Bitcoin reached new highs. The subsequent downturn sent Strategy’s share price down by more than half, reducing Saylor’s wealth by nearly $6 billion from its peak, the outlet said.
While Bloomberg noted that eight individuals accounted for roughly 25% of the $2.2 trillion increase in billionaire wealth for 2025, many crypto-linked figures finished the year lower. The outlet reported last week that Zhao’s wealth declined about 5% since Jan. 1, to an estimated $50.9 billion, while the Winklevosses were down 59% over the same period.
In contrast, Circle CEO Jeremy Allaire’s net worth reportedly rose 149% since June 4, coinciding with the U.S. government’s passage of the GENIUS Act, a comprehensive payments stablecoin bill.
Number of digital asset treasuries surged this year
Beyond Strategy’s expansion of its Bitcoin (BTC) holdings, a growing number of companies adopted crypto treasury policies in 2025, adding BTC and other tokens to their balance sheets.
Data from Bitcointreasuries.net indicates that about 192 public companies held BTC as of Wednesday.
Bitcoin’s price has fallen about 7% since Jan. 1, 2025. The cryptocurrency set an all-time high above $126,000 in October before retreating to about $80,000 by the end of November.
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