
Co-founder Michael Saylor signals selling Bitcoin as a possibility after massive FY2025 losses, unsettling investors despite the firm's strong cash reserves.
MicroStrategy, the largest corporate Bitcoin holder, reported a $17.4 billion unrealized loss in Q4 2025 and a $12.4 billion net loss for the fiscal year. The company holds $2.25 billion in cash to manage debt and dividends. Co-founder Michael Saylor acknowledged that selling Bitcoin is now a possibility, a departure from the firm's long-standing strategy of never selling its holdings. This has raised investor concerns about the company's future approach to its extensive cryptocurrency portfolio.