Michael Saylor and Tom Lee have incurred significant paper losses as Bitcoin and Ethereum prices plummet. According to Onchain Lens, Saylor's losses exceed $10.16 billion after Bitcoin's price fell below $61,000. Meanwhile, Tom Lee's losses surpass $8.65 billion with Ethereum dropping below $1,800. The market downturn has significantly impacted their holdings, reflecting the volatility in the cryptocurrency sector.