A major company's Bitcoin-focused strategy has delivered disappointing results. The 47.5% portfolio decline throughout 2025 would rank among the index's worst performers if benchmarked against traditional equities—landing around 6th worst. Some industry figures advocate Bitcoin accumulation as the optimal corporate strategy. Yet this particular case shows how concentrated bets on digital assets can backfire. Instead of creating shareholder value, the all-in approach actually eroded it. The contrast between the bullish narrative around Bitcoin adoption and real-world capital allocation outcomes raises important questions: Is Bitcoin treasury strategy a viable wealth-building approach, or does execution matter far more than conviction? Market results suggest timing, diversification, and risk management still matter—even in the crypto era.