Catenaa, Thursday, June 26, 2025-Michael Saylor, founder of Strategy (formerly MicroStrategy), hinted at a fresh Bitcoin acquisition Sunday, even as the firm faces investor lawsuits over a reported $5.9 billion loss on its crypto holdings in the first quarter.
Saylor posted a chart to X showing Strategy’s previous Bitcoin purchases with the caption, “Nothing Stops This Orange.” His similar cryptic posts in the past have preceded Bitcoin buys. Strategy remains the world’s largest corporate Bitcoin holder, with 592,100 BTC worth nearly $59.7 billion at current prices just under $101,000.
The post came days after shareholder Abhey Parmar filed a derivative suit in Virginia federal court against Saylor, CEO Phong Le, CFO Andrew Kang, and board members. The lawsuit alleges the executives breached fiduciary duties and made misleading statements regarding the company’s adoption of a new Financial Accounting Standards Board (FASB) rule.
The rule, implemented in January, allowed firms to reflect the market value of crypto holdings on their balance sheets. The accounting shift led Strategy to report a $5.9 billion unrealized loss in Q1, triggering a nearly 9% dip in its stock.
The complaint further alleges that Strategy’s leadership downplayed Bitcoin’s volatility risks and failed to adequately disclose the impact of the rule change. Executives also stand accused of making $31.5 million in insider stock sales while shares were allegedly overvalued.
A separate class-action suit filed in May makes similar claims. Strategy said it plans to “vigorously defend” against the allegations in regulatory filings.
