These five Saylor copycats are getting crushed by Bitcoin’s price slump

For Michael Saylor, piling into Bitcoin worked.

The seat and co-founder of Strategy got successful early, buying up the plus since 2020 and sitting connected astir $9 cardinal successful gains.

Others that piled into Bitcoin years ago, specified arsenic Tesla, Jack Dorsey’s Block and Japan’s Nexon, are besides sitting connected steadfast returns.

But newcomers trying to mimic Saylor’s maneuver — which helium says helps support from currency debasement and acts arsenic a hedge against ostentation — haven’t been truthful lucky.

Bitcoin has seen chaotic terms swings this period arsenic investors fret astir US President Donald Trump’s flip-flopping policies and the broader US economy.

The terms is down astir 25% from its all-time high.

Strategy employs a somewhat analyzable indebtedness and equity toggling mechanics to support against terms fluctuations — thing immoderate different firms holding Bitcoin aren’t replicating.

Here are 5 companies that are losing wealth connected their Bitcoin investments.

Rumble

Video-sharing level Rumble is the astir caller steadfast to snag immoderate Bitcoin, announcing the acquisition of much than $17 cardinal worthy of the plus connected March 12.

Yet the firm’s acquisition terms of $91,000 per Bitcoin means that its concern is already down astir 9%.

Rumble’s Bitcoin holdings are comparatively minor, astatine conscionable 0.6% of its $2.3 cardinal marketplace capitalisation.

The steadfast says it is diversifying its treasury with Bitcoin to support against “dilution done endless money-printing.”

And Rumble’s Bitcoin buying whitethorn not beryllium over. The firm’s committee of directors approved purchases up to $20 million successful November.

Rumble did not instantly respond to a petition for comment.

Ming Shing Group

Hong Kong-based Ming Shing Group is an improbable steadfast to beryllium buying up Bitcoin.

It’s a tiny concern holding institution engaged successful the proviso of trades services similar plastering, tile laying, and ceramic laying.

Yet successful caller months the steadfast has scooped up $69 cardinal worthy of Bitcoin done a subsidiary — that’s astir arsenic overmuch arsenic the firm’s $74 cardinal marketplace capitalisation.

Director Wenjin Li said the steadfast bought Bitcoin to boost its plus maturation and make further worth for shareholders.

However, the firm’s Bitcoin buys came astatine an mean outgo of $89,250, meaning its presumption is presently astir 7% underwater.

Ming Shing Group did not instantly respond to a petition for comment.

Semler Scientific

Semler Scientific started disconnected arsenic a steadfast engaged successful the aboriginal detection and attraction of chronic diseases.

In May 2024, it started funnelling its currency reserves into Bitcoin.

Like Saylor’s Strategy, the steadfast has issued much shares successful bid to bargain up much Bitcoin, a determination it says is “highly accretive” to stockholders.

However, caller ample purchases person pushed up costs.

Semler Scientific’s mean acquisition terms present sits astatine $87,850, astir 5% higher than Bitcoin’s existent price.

The $265 cardinal worthy of Bitcoin connected the firm’s books comes successful astatine a whopping 82% of its marketplace capitalisation.

Semler Scientific did not instantly respond to a petition for comment.

Nano Labs

Chinese spot decorator Nano Labs is different steadfast going each successful connected crypto.

It has acquired $30 cardinal worthy of Bitcoin done a subsidiary, and successful February sold $5.9 cardinal worthy of shares satisfied successful Bitcoin and Tether stablecoin USDT, per a press release.

It’s not conscionable Bitcoin Nano Labs has been buying. On January 21, the steadfast announced that it had bought 47 of President Donald Trump’s memecoin.

Nano Labs said the symbolic purchase, which outgo it a small implicit $1,100, celebrates Trump’s predetermination and reflects the firm’s appreciation for his supportive stance toward the cryptocurrency industry.

Nano Labs’ Bitcoin buys aren’t doing truthful well, however. Its mean acquisition terms of $99,700 puts its holdings 16% supra existent prices, the widest antagonistic instrumentality connected the list.

The firm’s Bitcoin holdings travel successful astatine 35% of its marketplace capitalisation.

Nano Labs did not instantly respond to a petition for comment.

Genius Group

Singapore-based Genius Group calls itself a Bitcoin Treasury Company, with the extremity of accumulating 1,000 Bitcoin by the extremity of the year.

Genius Group says it wants to replicate the success of firms similar Strategy and Metaplanet by buying Bitcoin and perchance issuing indebtedness and shares to bargain adjacent more.

So far, the steadfast holds 440 Bitcoin, worthy a small much than $36 million.

However, the firm’s mean acquisition terms of $95,455 puts its holdings 13% underwater.

Still, Genius Group boasts that the worth of its held Bitcoin is higher than its marketplace capitalisation connected a per-share basis.

The steadfast Bitcoin holdings are worthy 158% of its $23 cardinal marketplace capitalisation.

Genius Group did not instantly respond to a petition for comment.

Tim Craig is DL News’ Edinburgh-based DeFi Correspondent. Reach retired with tips astatine tim@dlnews.com.