Bitcoin Accumulators Are Singing a New Song as Strategy Sours

Michael Saylor, co-founder and executive chairman of Strategy Inc., during the Bitcoin 2025 conference in Las Vegas on May 29, 2025. 

Photographer: Ronda Churchill/Bloomberg
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David Pan writes on how the changing fortunes of companies that have been accumulating cryptocurrencies have altered perceptions, including among industry executives.

Companies that once touted Bitcoin hoarding to woo investors are now changing their tune as the strategy falls out of favor.