Publicly traded digital-asset treasury companies have seen approximately $50 billion in cumulative losses, prompting increasing pressure from both retail and institutional shareholders for greater management accountability. Sky AI, formerly Sharps Technology, saw its stock drop 90% since August 2025 after raising over $400 million to build a Solana treasury, while Metaplanet plunged 84% from its June 2025 peak. In contrast, Michael Saylor’s Strategy continues accumulating bitcoin and now holds 845,050 BTC worth $65.83 billion, alongside $6.4 billion in USD assets.
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