Bitcoin: End of the Lawsuit Against Strategy and Its Co-Founder Michael Saylor

Michael Saylor’s crypto-evangelical dreams have not made everyone happy. His strategy of massive bitcoin accumulation, carried as a banner against traditional finance, triggered fascination… and anger. This ideological cocktail manifested in a class action lawsuit against Strategy Inc., accused of accounting manipulations and misleading statements. Verdict? The curtain fell on the trial without the main actors taking the stand. But behind the scenes, tensions remain palpable.

Strategy and the crypto lawsuit that evaporates without a sound

The case made a big noise. Yet recently, investors decided to drop their lawsuit against Strategy Inc., the new name of MicroStrategy. The procedure targeted Michael Saylor and his two lieutenants, Phong Le and Andrew Kang, for overestimating the profitability of the bitcoin model adopted in early 2025, for lack of transparency . 

The angle of attack? The ASU 2023-08 accounting standard, which requires companies to evaluate their crypto assets at fair value, gains and losses included.

Plaintiffs claimed that Strategy hid the harmful effects of this standard on its results. To their surprise, the company announced 4.22 billion dollars in losses for the first quarter of 2025, while bitcoin’s price had exploded. Enough to spark revolt.

But without explanation, the case was dismissed , preventing any revival of the complaint. The mystery still lingers: no deal was finalized. A troubling silence while the crypto community, eager for transparency, remains hanging on explanations.

When bitcoin becomes a show: strategy or illusion?

The bitcoin dream was accompanied by a well-rehearsed theatricality. The firm does not just buy BTC; it stages. Between massive purchases, 3,081 BTC at 115,829 dollars each recently, and ambitious statements, Strategy presents itself as a company whose value merges with that of bitcoin.

But this narrative leaves one puzzled. Analysts denounced the “too flattering” presentation of results, based on theoretical figures rather than real sales. The bold comparison between Strategy’s P/E and that of Apple or Nvidia was described as “100% fraudulent” by a financial advisor.

With the fair value standard, every bitcoin rebound beautifies the balance sheet. Conversely, every drop digs a hole. The public sees an inflated balance sheet, not always understanding that these gains are not cashed in. In the crypto industry, this theatricality provokes reflection: by trying too hard to shine, doesn’t one risk dazzling… then disappointing?

Michael Saylor: BTC guru or crypto Big Brother?

Michael Saylor is no longer just CEO. He has become an almost prophetic figure of bitcoin maximalism. His strategy? To hold ever more BTC. Result: Strategy now claims 632,457 BTC in portfolio, valued at nearly 70 billion dollars, for an average cost of 73,527 dollars per unit.

But this obsessive accumulation arouses as much admiration as concern. Behind this absolute quest, some denounce a sprawling, almost Orwellian power within the crypto universe.

Some figures that say a lot 

• +150%: evolution of MSTR stock price over one year;
• 23.5 billion $: unrealized gain on bitcoins held;
• 309.9 M$: raised through the sale of MSTR shares from August 18 to 24, 2025;
• 3 classes of preferred shares recently issued;
• 4.22 billion $: net losses Q1 2025 despite the crypto bull run.

The crypto community watches. Some cry genius, others danger. The man who claims to want to free companies from the yoke of fiat currencies today concentrates a treasure greater than that of some states.

The lawsuit might be closed, but Michael Saylor does not intend to stop there. His ambition is clear: to open a bitcoin bank valued at one trillion dollars . A crazy project for some, visionary for others. And in the crypto universe, few dare to ignore it.