Michael Saylor, the executive chairman of Strategy (previously known as MicroStrategy), has hinted at a potential new acquisition of Bitcoin despite ongoing legal challenges related to a staggering $5.9 billion loss reported in the first quarter and increasing dissatisfaction among investors.
On Sunday, Saylor shared a chart detailing Strategy’s historical Bitcoin purchases on social media platform X, captioned, “Nothing Stops This Orange.” The phrase has become a familiar precursor to the company’s previous Bitcoin acquisitions, leaving many to speculate about a forthcoming investment.
Nothing Stops This Orange pic.twitter.com/NwtiXWl4MT
— Michael Saylor (@saylor) June 22, 2025
Strategy currently possesses approximately 592,100 BTC, valued at over $59 billion, as Bitcoin hovers just below $101,000. This positions the company as the largest holder of Bitcoin among publicly traded firms, accounting for nearly 2.8% of the total Bitcoin supply.
Legal Challenges Mount for Strategy amid Unrealized Loss and Insider Trading Allegations
Saylor’s recent post comes amid heightened scrutiny following a lawsuit filed in a Virginia federal court last Thursday. Shareholder Abhey Parmar has accused Saylor, CEO Phong Le, CFO Andrew Kang, and four board members of breaching fiduciary duties and misleading investors ahead of the company’s Q1 earnings announcement.
The lawsuit primarily revolves around the implementation of a new Financial Accounting Standards Board (FASB) ruling adopted in January, which permits companies to report cryptocurrency holdings at their fair market value. The implementation of this rule resulted in Strategy disclosing a $5.9 billion unrealized loss on its Bitcoin reserves in early April, a revelation that caused the company’s stock to plunge nearly 9%.
Parmar contends that company officials did not adequately inform investors about how the accounting change could impact financial results, nor did they sufficiently address the volatility risks associated with Bitcoin. According to the filing, “The company’s profitability when applying its bitcoin-driven investment strategy and treasury options were substantially less profitable than represented.”
The complaint also accuses the executives of selling company stock while its price remained inflated, with allegations that they collectively profited $31.5 million prior to the public disclosure of the losses. Furthermore, he claims the leadership engaged in corporate waste, gross mismanagement, and abuse of authority.
While Saylor has yet to publicly respond to the lawsuit, he continues to advocate for Bitcoin. In a recent social media post, he predicted that Bitcoin’s value could soar to $21 million over the next two decades, a claim that highlights his long-term outlook, albeit without further elaboration.
$21 million in 21 years
— Michael Saylor (@saylor) June 21, 2025
Defensive Strategy as Bitcoin Holdings Rise Amid Ongoing Legal Scrutiny
Commentators fear the @MicroStrategy class-action lawsuit sets a precedent for broader enforcement, posing a threat to corporate $BTC adoption.#Bitcoin #Strategy #Lawsuithttps://t.co/AXm2CqTHjL
— Finance Newso.com (@Finance Newso) May 20, 2025
The lawsuit specifically targets chairman Michael Saylor, CEO Phong Le, and CFO Andrew Kang, alleging they misrepresented the expected profitability of Strategy and minimized the inherent risks associated with Bitcoin volatility. The plaintiffs particularly scrutinize the company’s emphasis on a BTC Yield metric, which allegedly obscured the potential downsides associated with fluctuations in Bitcoin’s price under the new accounting guidelines.
Despite the ongoing legal concerns, Strategy remains resolute in its Bitcoin investment strategy. On June 16, the company announced the acquisition of an additional 10,100 BTC for approximately $1.05 billion, averaging around $104,080 per coin.
@Strategy discloses it has purchased an additional 10,100 bitcoins at a cost of approximately $1.05 billion.#Bitcoin #MSTRhttps://t.co/p1nrlzuLw1
— Finance Newso.com (@Finance Newso) June 16, 2025
This recent acquisition raises Strategy’s total Bitcoin holdings to 592,100 BTC, solidifying its standing as the foremost corporate holder of the cryptocurrency. The purchase occurred without liquidating any stocks or Bitcoin shares, leading to a year-to-date BTC yield reported at 19.1%, according to the company’s data.
Bitcoin faces potential crash to $92,000 as CryptoQuant warns demand dropped 50% while short-term holders shed 800,000 BTC and institutional flows collapse amid bull run concerns.#Bitcoin #BTChttps://t.co/5Bc5Xp1UcH
— Finance Newso.com (@Finance Newso) June 20, 2025
Nonetheless, Bitcoin’s recent downturn, dipping below $98,500 following the U.S. airstrikes in Iran, has intensified scrutiny surrounding Strategy’s approach. With increasing stakes and intensified observation from investors, Saylor’s steadfast commitment to a ‘buy and hold’ strategy will be tested in the times ahead.
The post Saylor Teases Record Bitcoin Buy—As Strategy Faces $5.9B Loss Lawsuit and Investor Fury appeared first on Finance Newso.
