The post Michael Saylor Faces Lawsuit Over Alleged Bitcoin Misclaims appeared on BitcoinEthereumNews.com.

A class-action lawsuit was filed against Strategy for misleading Bitcoin claims.  Plaintiff asserts that the inflated profitability of Bitcoin is responsible for a $5.9B loss. Strategy holds 576,000 BTC, valued at $60.6B, despite legal woes. On May 19, 2025, a class-action lawsuit was launched against Strategy, which used to be called MicroStrategy, and its leaders, including Executive Chairman Michael Saylor. Anas Hamza, the complainant, says the business broke federal securities laws by lying about its Bitcoin investing plan. The 38-page complaint says that Strategy exaggerated how profitable its Bitcoin-focused strategy was. It says the corporation didn’t tell investors about the dangers, which caused a $5.9 billion loss that wasn’t recognized until Q1 2025. On April 7, 2025, this caused MSTR shares to fall by 8.67%, which hurt investors. Saylor directed Strategy to begin purchasing Bitcoin in 2020.The corporation currently has over 576,000 BTC, which is worth $60.6 billion at current pricing. The company’s aggressive approach is to raise money via loan and stock markets to buy Bitcoin. The three individuals identified as defendants in the lawsuit are Saylor, Director Le, and CFO Andrew.. It says that what they said caused shareholders to believe that the Bitcoin treasury strategy was stable and might bring in a lot of money. Hamza is the lawyer for stockholders who lost money because of these alleged lies. Bitcoin Strategy Under Review The filing talks about Strategy’s recent acquisition of 7,390 BTC for $764.9 million, which was reported on May 19, 2025, at an average price of $103,498. The complaint says the corporation minimized the dangers and volatility of its assets, even though it has claimed a 16.3% return on Bitcoin so far this year. Saylor has openly supported Bitcoin, saying that it might be worth $13 million by 2045. He has said that Bitcoin is…

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Filed under: News - @ May 21, 2025 1:27 am