In summary
- Investors have eliminated a demand for collective action against the giant strategy of Bitcoin, which accused the deceptive shareholders company about how the new accounting rules would affect their profitability.
- The case focused on the change of strategy to the accounts of fair value, which allowed him to mark Bitcoin’s pricing changes in his balance sheet.
- Critics said the company exaggerated how much this change would increase profits. Despite the recent increase in Bitcoin, Strategy reported a loss of $ 4.22 billion in early 2025, which caused a violent reaction.
Investors in the Bitcoin Behemoth strategy have dismissed a demand for collective action against the company for allegedly making false and misleading statements about their profitability.
The suit was Initially filed in Mayaccusing the company, famous for pivoting of software development to a full -time Bitcoin accumulation strategy, to deceive investors on the impact that new cryptographic accounting practices would have in their profitability.
This year, the strategy, which it currently has $ 68 billion The value of BTC changed to a fair value accounting standard that allowed it to register quarter to trimester in the price of Bitcoin retained in its balances.
Previously, the firm registered its bitcoin at the cost of original purchase; While it could write down the value of the token as “deterioration charges”, he could not mark the price increase Unless chips were sold.
The investors who presented demands against the strategy and their leadership earlier this year argued that the company deceived them by exaggerating the positive impact that this new accounting strategy would have on the profitability of the company.
When the strategy announced a network loss of $ 4.22 billion In the first quarter of 2025, the historical increase in Bitcoin despite the previous six months, the owners began. disgusting.
But on Thursday, the plaintiffs in one of the most prominent The demands against the company chose to voluntarily dismiss their claims. The stipulated dismissal jointly, presented in a federal court in eastern Virginia, where the strategy is based, was carried out with prejudice, which means that claims cannot be done again in court.
Decipher He reached the lawyers of the plaintiffs asking why they had eliminated their claims, or if an agreement with strategy had been reached, but did not immediately receive an answer.
In recent weeks, the strategy has faced other criticisms about how its unorthodox business model presents shareholders.Earl this month, an outstanding Wall Street advisor struck The company to compare its price / profits relationship with the tastes of Apple and Nvidia, a movement that was “100% fraudulent,” said the advisor, because the company’s recent performance was promoted by a “unique” increase in the price of Bitcoin, not the commercial foundations that can be resorted to.
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