Michael Saylor, executive chairman of the company now known as Strategy, has once again signaled a potential Bitcoin acquisition. On Sunday, Saylor posted a chart on X displaying his firm’s historic Bitcoin purchases with the cryptic caption: “Nothing Stops This Orange.” The statement echoes similar past posts that preceded major Bitcoin buys. The post comes amid legal troubles for Saylor and Strategy’s top leadership, who are facing multiple lawsuits from investors. The firm reported a staggering $5.9 billion unrealized loss on its Bitcoin holdings in its first-quarter earnings, triggering sharp criticism and legal scrutiny. Despite the turmoil, Strategy remains the largest corporate holder of Bitcoin , owning 592,100 BTC valued at around $59.7 billion, with Bitcoin currently trading just under $101,000. Lawsuit Claims Misleading Statements by Strategy and Execs Just days before Saylor’s post, an investor named Abhey Parmar filed a derivative lawsuit in a Virginia federal court against Strategy, Saylor, CEO Phong Le, CFO Andrew Kang, and four board members. The suit alleges the executives breached their fiduciary duties by failing to properly disclose the impact of a new accounting rule that led to the multibillion-dollar paper loss. The complaint claims that Strategy adopted a Financial Accounting Standards Board (FASB) rule in January that allowed companies to report the fair market value of cryptocurrencies on their balance sheets. While this change was expected to improve transparency, Parmar alleges it instead resulted in a massive $5.9 billion unrealized loss when reported in April, causing Strategy’s stock to fall nearly 9%. Further, the lawsuit accuses Strategy’s executives of selling company shares worth approximately $31.5 million before the accounting change’s full impact was made public. Parmar asserts these trades were executed while the stock was “artificially inflated,” suggesting possible insider trading. Second Lawsuit Adds Pressure Adding to the company’s legal challenges, Strategy is also facing a proposed class-action lawsuit filed in May by another investor, Anas Hamza. This suit similarly accuses the company of misrepresenting the risks tied to Bitcoin volatility and failing to adequately explain the implications of adopting the new FASB rule. In response, the firm stated in a regulatory filing that it “intends to vigorously defend against these claims.” Despite the legal headwinds, Saylor’s continued bullish stance hints that the company may soon expand its already massive Bitcoin treasury. The post Michael Saylor Hints at More Bitcoin Buys as Strategy Faces Investor Lawsuits appeared first on TheCoinrise.com .
