October 2025 Market Crash Wipes Out Billions in Crypto Wealth
The October 2025 market reversal led to significant losses in the cryptocurrency sector, wiping out billions of dollars in crypto-related wealth. Bitcoin and crypto stocks declined sharply after earlier gains, with Bitcoin's price dropping from a peak above $126,000 in October to around $80,000 by late November, a roughly 7% decrease in 2025.
Michael Saylor, whose company Strategy had benefitted from an aggressive Bitcoin treasury bet earlier in the year, saw his net worth fall by $2.6 billion over the past 12 months to approximately $3.8 billion. Strategy's share price dropped more than 50% from its peak, reflecting the downward pressure on his wealth.
Changpeng Zhao (CZ), CEO of Binance, also experienced a decline in fortune by about 5% since January 1, resulting in an estimated net worth of $50.9 billion. Meanwhile, Cameron and Tyler Winklevoss saw a combined wealth reduction of roughly 59%, impacted by falling crypto prices and decreased trading activity.
In contrast, Jeremy Allaire, CEO of Circle, reported a notable increase in net worth of about 149% since June, supported by stablecoins and favorable related policy developments. Data from Bitcointreasuries.net indicates that 192 public companies now hold Bitcoin on their balance sheets, an increase from the prior year.
Looking ahead to 2026, opinions remain mixed. Some analysts, such as Fidelity's Jurrien Timmer, suggest a possible market pause or decline with targets near $65,000, while others like Bitwise's Matt Hougan expect an upward trend. Strategy's Phong Le maintains that the fundamentals of Bitcoin and the crypto market stayed solid throughout 2025.
