Strategy faces multiple class-action lawsuits over Bitcoin holdings

PANews reported on June 27 that according to Decrypt , Bitcoin giant Strategy has faced class action lawsuits initiated by at least five law firms for suspected securities fraud in its public statements related to Bitcoin investment. Many legal experts said that it is not uncommon for multiple law firms to compete for the position of leading plaintiff in such cases, and the leading law firm can obtain considerable legal fees. The lawsuit stems from the fact that Strategy purchased $ 7.7 billion worth of Bitcoin in the first quarter of 2024 , resulting in an unrealized loss of nearly $ 6 billion due to the decline in the price of the currency. At present, Strategy has responded in SEC documents that it will actively respond to the relevant allegations, but it is impossible to predict the outcome of the case.