Michael Saylor said Strategy could sell part of its bitcoin holdings if such transactions benefit shareholders and improve capital structure.

Proceeds may be allocated to dividends, debt reduction and share buybacks, while the company reported a first-quarter loss of $12.5 billion.

Potential uses of proceeds

According to Michael Saylor, funds from any sale could support corporate actions intended to strengthen shareholder returns and balance-sheet metrics.

• Dividends: Pay dividends to shareholders, providing direct returns funded by liquidity generated through selective sales of bitcoin holdings.
• Debt reduction: Retire outstanding debt to lower interest expenses and improve leverage ratios, strengthening the company’s financial position.
• Share buybacks: Repurchase shares to adjust capital structure and support equity value per share when conditions warrant.

Financial results and outlook

Strategy recorded a first-quarter loss of $12.5 billion, a figure that the company reported amid active deliberations on capital allocation.

Despite the loss, the firm states it may pursue aggressive bitcoin purchases again when market conditions become favorable for long-term accumulation.