Saylor’s Cryptic Post Fuels Bitcoin Buy Speculation
Michael Saylor has once again hinted at an imminent Bitcoin purchase, posting a chart of Strategy’s BTC acquisitions on X with the caption: “Nothing Stops This Orange.” Known for similar coded messages in the past, Saylor’s posts have typically preceded significant Bitcoin buys by Strategy — the firm formerly known as MicroStrategy.
Currently, Strategy holds 592,100 BTC, worth nearly $59.7 billion with Bitcoin trading around $101,000. The company maintains the largest Bitcoin holdings of any publicly traded firm, cementing its role as a major institutional backer of the crypto asset.
Investor Lawsuit Over Q1 Bitcoin-Linked Losses
Saylor’s post followed the filing of a shareholder lawsuit in Virginia federal court, accusing Strategy’s leadership of breaching fiduciary duties. The lawsuit, brought by investor Abhey Parmar, centers on the company’s $5.9 billion unrealized loss reported in Q1 2025, following a change in accounting practices.
The complaint alleges that Strategy executives, including CEO Phong Le and CFO Andrew Kang, “made materially false and misleading statements” regarding the risks and implications of adopting a new Financial Accounting Standards Board (FASB) rule. The accounting change required marking Bitcoin holdings to market value, amplifying reported losses amid BTC’s Q1 volatility.
Stock Drop and Insider Gains Alleged
Following the earnings disclosure, Strategy’s stock dropped nearly 9%. Despite this, Strategy shares have rebounded, gaining 28% year-to-date, recovering from a low of $238 in April.
The lawsuit further claims that executives sold $31.5 million worth of inflated stock prior to the public fallout, engaging in insider trading while withholding the full extent of risk exposure.
Multiple Legal Fronts for Strategy
This is not the only legal headwind. In mid-May, another class-action lawsuit was filed, also citing the company’s failure to adequately disclose the financial impact of the new crypto accounting method. Both complaints accuse Strategy of misrepresenting Bitcoin-related risks and overstating profitability.
Strategy has responded by stating in regulatory filings that it “will vigorously defend against these claims.”
Conclusion: Strategy Stays Bullish on Bitcoin
Despite mounting legal pressure, Michael Saylor appears undeterred. The firm’s commitment to Bitcoin as a treasury reserve asset remains intact, and another accumulation phase may soon follow. Strategy’s long-term BTC thesis is clear, but whether courts or investors agree with its transparency is another matter.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.