Strategy’s latest earnings release marks a subtle but meaningful shift in the company’s approach to bitcoin: Instead of passively stockpiling bitcoin, it’s going to more actively manage the balance sheet to maximize value of bitcoin per share.
That’s a reversal from the company’s longstanding “never sell” strategy, which originated with chairman, founder and bitcoin evangelist Michael Saylor – and it comes as the company posts a $12.5 billion net loss in the first quarter due to the slump in the bitcoin price during the beginning of the year.
“Our ability to sell bitcoin either to buy U.S. dollars or sell bitcoin to buy debt if it’s accretive to bitcoin per share is something that we would consider doing going forward,” Phong Le, president and CEO of the company, said on the earnings call Tuesday evening.
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https://www.cnbc.com/2026/05/05/strategy-breaks-from-never-sell-bitcoin-approach.html