Strategy reported a Q1 net loss of $12.54 billion on $124.3 million in revenue as unrealized digital asset losses totaled $14.46 billion. Bitcoin holdings increased 22% year-to-date to 818,334 BTC at an average cost of $75,537 per coin, delivering a 9.4% BTC yield for the period.

Executive chairman Michael Saylor said the company may sell Bitcoin to fund dividend payments and manage debt obligations, while continuing to use credit facilities to acquire additional coins over time. CEO Phong Le added that Bitcoin sales would be pursued when accretive to Bitcoin-per-share growth and advantageous to shareholders.

Shares fell over 4% in after-hours trading following the remarks, reflecting investor concern over potential Bitcoin liquidations. Traders now assign roughly a 42% probability to Bitcoin sales by year-end, underscoring market uncertainty about the company’s long-term accumulation strategy.