Strategy (MSTR) Q1 FY26 earnings call

Strategy Inc. delivered a strong Q1 FY26, marked by significant capital raises and continued Bitcoin accumulation, solidifying its position as the largest corporate Bitcoin holder. Despite a substantial operating loss driven by Bitcoin's fair value decline, the company emphasized its long-term strategy of increasing Bitcoin per share and leveraging its digital credit product, Stretch, for efficient capital generation. Management signaled a more proactive and tactical approach to its capital stack, including a willingness to sell Bitcoin for optimization purposes, aiming to maximize shareholder