Strategy, the largest corporate holder of Bitcoin, announced a $12.4 billion net loss for Q4 2025, driven by a $17.4 billion unrealized loss due to changes in asset fair value. Despite holding $2.25 billion in cash reserves, co-founder Michael Saylor mentioned during an earnings call that selling Bitcoin remains an option, although the company currently faces no immediate pressure to liquidate its holdings. This statement has raised concerns among investors about potential market impacts.