Strategy Tumbles to 4-Month Low as Crypto Stocks, Digital Asset Treasuries Sink

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By Krisztian Sandor|Edited by Stephen Alpher

Aug 19, 2025, 9:07 p.m.

Executive Chairman of MSTR, Michael Saylor (Danny Nelson/CoinDesk)

Crypto-related stocks fell sharply on Tuesday as markets turned risk-off with BTC dropping to $113,000.
MSTR fell 7.8%, while some ETH and SOL-focused digital asset treasuries suffered deeper drawdowns.
Investors are cautious ahead of Federal Reserve Chair Jerome Powell’s upcoming speech.

Crypto-related stocks tumbled on Tuesday in a broad-market crypto slide that brought bitcoin

BTC$113,532.11

down to $113,000.

Strategy (MSTR), the largest corporate owner of BTC, closed the session 7.8% down at $336, at its weakest price since April 22.

STORY CONTINUES BELOW

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Ethereum

ETH$4,148.65

treasury firms SharpLink Gaming(SBET)and BitMine(BMNR)lost 8%-9%, while Solana-focused accumulators DeFi Development(DFDV)and Upexi(UPXI)plunged 13.7% and 9%, respectively.

Digital asset investment firm Galaxy (GLXY) slid 10%, while Robinhood (HOOD) sank 6.5% and Coinbase (COIN) fell 5.8%. BTC miner MARA Holdings (MARA) declined nearly 6%, while some high-flying HPC names like Bitdeer (BTDR), IREN (IREN) and Hut 8 (HUT) plummeted nearly 10%.

Risk appetite quickly evaporated this week as traders anticipate Fed Chair Jerome Powell’s Friday speech at Jackson Hole, Wyoming.

Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University’s business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH.

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