A report from BitcoinTreasuries.net shows that in 2025, only one Bitcoin treasury company's stock price outperformed the benchmark S&P 500 index (with a year-to-date return of 16%). The only company to outperform the S&P 500 was France-based The Blockchain Group, whose stock price has surged approximately 164% since January 1st. Among other well-known Bitcoin treasury companies, Strategy's stock price fell 12%, Metaplanet's stock price dropped by nearly a third, and Nakamoto, which raised over $600 million to buy Bitcoin, has seen its market capitalization plummet by over 98%. (DL News)