Digital Asset Treasury (DAT) stocks are facing a severe test, with some plunging more than 50% from their 2025 peaks and now trading near the value of their underlying crypto holdings. The dramatic sell-off poses a critical question for investors: is this a justified collapse or a severe overreaction creating a potential opportunity? Data reveal a stark picture. While Bitcoin is down roughly 20% from its 2025 all-time high, per CoinGecko data, DAT stocks have fallen more swiftly. Strategy’s stock is down ...