Crypto hoarders dump tokens as shares tumble

Companies that hoard cryptocurrencies are selling off their holdings to support falling share prices, as the trend of "digital asset treasury" businesses faces a $1 trillion cryptocurrency market decline. Michael Saylor-led Strategy, the largest corporate bitcoin holder, has seen its shares drop by 50 percent in the last three months, impacting similar companies. The combined stock market value of these firms has decreased by $77 billion since July, leading to concerns about the sustainability of their business models. The sell-off reflects a shift in sentiment towards cryptocurrencies, which were previously boosted by companies like Saylor's embracing bitcoin.