Strategy Inc. reports up to $14.5 billion in Q1 losses and sells Bitcoin for the first time since 2022 as its 843,706 BTC treasury faces a bear market.

Strategy's mNAV ratio fell below 1.0 as its enterprise value dropped under its Bitcoin holdings. The company sold BTC for the first time in four years.

Strategy reports an $8.32 billion loss on digital assets for Q2 2026. Bitcoin between $62,000 and $64,000 on July 6 at 48.5% YES.