According to Cointelegraph, Strategy is facing a lawsuit from investors due to its $5.9 billion Bitcoin loss. Michael Saylor suggested that the company will continue to purchase Bitcoin. Strategy holds 592,100 BTC, worth approximately $5.97 billion.
Investor Abhey Parmar has filed a lawsuit in the Virginia federal court, accusing Saylor and other executives of failing to disclose the impact of accounting changes, resulting in an unrealized loss of $5.9 billion in Bitcoin in the company's first-quarter report, causing the stock price to drop nearly 9%.
The lawsuit also accuses executives of conducting internal stock sales before the accounting changes were made public, profiting nearly $31.5 million. Strategy stated it will actively respond to these allegations.
