According to Cointelegraph, Strategy is facing investor lawsuits due to its $5.9 billion Bitcoin loss. Michael Saylor hinted that the company will continue to purchase Bitcoin. Strategy holds 592,100 BTC, valued at 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 the company's first quarter report and a nearly 9% drop in stock price.
The lawsuit also accuses executives of conducting internal stock sales for profit of nearly $31.5 million before the accounting changes were made public. Strategy stated it will actively respond to these allegations.
