邁克爾·塞勒（Michael Saylor）的策略（以前是微型策略）上週在比特幣上翻了一番，以7.65億美元的價格購買了7390硬幣。

接下來是集體訴訟，指責高管誤導投資者與其加密貨幣較重的戰略相關的風險。

Recently, Strategy, formerly known as MicroStrategy, made headlines for two significant developments. The firm, renowned for its bold treasury strategy focused heavily on Bitcoin, announced the purchase of 7,390 coins last week. This acquisition, valued at $765 million, was part of a broader funding initiative that also saw Strategy sell shares and issue convertible preferred stock.

最近，策略（以前稱為微型策略）成為兩個重大發展的頭條新聞。該公司以其大膽的國庫策略而聞名，重點關注比特幣，上周宣布購買了7,390個硬幣。這筆收購價值為7.65億美元，是一項更廣泛的資金計劃的一部分，該計劃還看到了策略出售股票並發行可轉換優先股。

According to recent SEC filings, these funds were used to buy BTC on May 18 and 19 at an average price of $103,500.

根據最近的SEC文件，這些資金用於5月18日和19日，平均價格為103,500美元。

This purchase contributes to Strategy’s impressive cryptocurrency holdings, which now amount to 576,230 BTC, valued at over $59.2 billion. The company's year-to-date Bitcoin yield stands at 16.3%, reflecting gains from the cryptocurrency’s 20% monthly surge.

這次購買促成了戰略令人印象深刻的加密貨幣持有，現在價值576,230 BTC，價值超過592億美元。該公司的年初比特幣收益率為16.3％，這反映了加密貨幣每月20％的增長。

Moreover, Strategy's realised profit from its BTC investment is estimated at over $19.2 billion, considering an average buy price of $69,726 for its coins.

此外，考慮到其硬幣的平均買入價格為69,726美元，戰略從其BTC投資中實現的利潤估計超過192億美元。

Earlier this month, Strategy executives hinted at the possibility of more crypto purchases. In response to a question about the company's hiring plans, Saylor stated that Strategy is actively seeking "strategic talent and acquisitions to expand our capabilities."

本月早些時候，戰略高管暗示可能購買更多加密貨幣。在回答有關公司招聘計劃的問題時，塞勒說，戰略正在積極尋求“戰略人才和收購來擴大我們的能力”。

However, alongside this optimism, a class-action lawsuit was filed against Strategy executives, including Saylor, CEO Phong Le, and CFO Andrew Kang, on Friday. The suit, which was filed by plaintiff Anas Hamza and is being handled by the law firm Pomerantz LLP, claims that executives misled investors about the risks involved in Strategy's pivoting strategy.

但是，在這種樂觀態度之外，週五，對包括Saylor，Phong Le和CFO Andrew Kang在內的戰略主管提起了集體訴訟。該訴訟是由原告Anas Hamza提起的，並由Pomerantz LLP律師事務所處理，他聲稱高管誤導了投資者有關策略策略策略所涉及的風險。

The lawsuit, which was filed in Virginia federal court, asserts that Strategy executives failed to fully disclose the increased risks associated with Bitcoin investments following the introduction of new accounting rules for crypto assets in 2025. These rules, which were part of a broader overhaul of Generally Accepted Accounting Principles (GAAP), require companies to report their crypto assets at fair value and recognize any changes in value in net income.

The plaintiff's lawyer stated, "After Congress passed the new tax law in December 2024, which drastically altered the tax implications of holding crypto derivatives for more than 12 months, and as the macroeconomic outlook shifted in 2024, rendering Strategy's claims of Bitcoin serving as an inflation hedge false, the true volatility and liquidity risks associated with Strategy's crypto-heavy investment strategy became apparent."

原告的律師說：“在國會於2024年12月通過了新的稅法之後，該法案徹底改變了持有加密衍生品超過12個月的稅收影響，並且隨著2024年宏觀經濟的外觀發生了變化，使策略的策略與真實的波動性策略相關聯，使比特幣的策略與策略相關聯，使得比特幣的索賠變得相關。

The lawsuit further alleges that Strategy overstated the profitability of its Bitcoin strategy while attempting to conceal the potential for significant losses. It claims that executives made "false and misleading statements" about the company's financial condition and prospects, inducing investors into paying "artificial and inflated prices for Strategy's shares."

該訴訟進一步聲稱，戰略誇大了其比特幣戰略的盈利能力，同時試圖掩蓋巨大損失的潛力。它聲稱，高管對公司的財務狀況和前景做出了“虛假和誤導性的陳述”，從而促使投資者向戰略的股票支付“人為和誇張的價格”。

The complaint cites a 23% drop in Strategy’s stock price from a 52-week high of $843.74 on January 4. It is alleged that the stock price decline was triggered by a reported $1.2 billion unrealised loss on Strategy’s Bitcoin holdings in Q1 2024, which was disclosed on March 1.

該投訴引用了1月4日的52週股價下跌23％的股票價格，據稱股票價格下跌是由據報導，據報導，股票價格下跌是由據報導是由12024年第1季度策略比特幣持有的12億美元未實現的損失觸發的，該股票的損失是在3月1日披露的。

The class-action suit seeks restitution for investors who purchased Strategy shares between February 2023 and March 2024. It aims to recover any unlawful gains reaped by the executives through their alleged actions.

集體訴訟為在2023年2月至2024年3月之間購買戰略股份的投資者尋求賠償。它的目的是收回高管通過所謂的行動獲得的任何非法收益。

In response to the lawsuit, a spokesperson for Strategy said, "The company has no knowledge of any wrongdoing by its executives and intends to vigorously defend itself against these claims."

為了回應訴訟，戰略發言人說：“該公司不知道其高管的任何不當行為，並打算強烈捍衛自己免受這些要求。”

Reactions to the lawsuit were swift and varied. One noted DeFiLlama developer, 0xngmi, expressed surprise at the suit, deeming it to be without merit. He pointed out that Strategy is open about its strategy, which involves leveraging on Bitcoin, and that investors were aware of the risks.

對訴訟的反應迅速而多樣。一位著名的Defillama開發人員0xngmi對訴訟表示驚訝，認為這是沒有優點的。他指出，關於其戰略的策略是開放的，該戰略涉及利用比特幣，並且投資者意識到了風險。

On X, 0xngmi wrote, "This is some next level buyers remorse. People knew exactly what they were investing in. It’s a company that’s making a huge bet on Bitcoin, and they’re very transparent about it."

在X上，0xngmi寫道：“這是一些下一級買家的re悔。人們確切地知道他們在投資的東西。這是一家對比特幣大量下注的公司，他們對此非常透明。”

However, short-sellers have been critical of Strategy’s treasury management strategy, which involves taking on debt to fund its Bitcoin buys, arguing that it could ultimately destabilise shareholders.

但是，賣空者一直批評戰略的國庫管理策略，該戰略涉及承擔債務以資助其比特幣購買，並認為它最終可能會破壞股東的穩定。

Despite the lawsuit, Strategy’s stock price rose by 8% in after-hours trading following the announcement of the new bitcoin purchase. This suggests that investors may still be optimistic about the company's long-term prospects.

儘管提起訴訟，但在宣布新比特幣購買後，戰略的股價在下班後交易中上漲了8％。這表明投資者可能仍然對公司的長期前景感到樂觀。

"This lawsuit is a test of how regulators will view corporate crypto disclosures in an era of decentralized finance and rapid technological change," said analyst Clara Mertens. "It will also determine the level of protection afforded to investors who invest in companies with unconventional investment strategies."

分析師克拉拉·梅爾滕斯（Clara Mertens）表示：“這項訴訟是對監管機構如何在分散財務和快速技術變革時代的公司加密披露的測試測試。” “這還將確定投資具有非常規投資策略的公司的投資者所提供的保護水平。”

As one of the most bullish institutional investors in Bitcoin, Strategy has been a subject of both praise and criticism for its cryptocurrency-heavy treasury strategy. The company began investing in

作為比特幣最看漲的機構投資者之一，戰略一直是其加密貨幣繁重的財政策略的讚美和批評的主題。該公司開始投資