Michael Saylor has finally pissed off the wrong people… and it’s not the IRS. A fresh class action lawsuit has been filed against MicroStrategy, its co-founder and Bitcoin-obsessed messiah, along with CEO Phong Le and CFO Andrew Kang, accusing them of being full of sh*t about the company’s financial health and Bitcoin strategy. 

(Source: Giphy) 

According to the complaint, these guys spent the last year pumping out “rosy assessments” of MicroStrategy’s performance as if the company wasn’t hemorrhaging billions in unrealized losses. The plaintiffs allege that executives knowingly misled investors by reporting metrics like “BTC Yield” and “BTC $ Gain” to distract from the fact that the company was getting absolutely wrecked under the new accounting rules… a.k.a. The ones that actually require you to report reality. 

(Source: The Block) 

Anyway, the rule in question, ASU 2023-08, forces companies to mark their crypto holdings to fair value. So when Bitcoin shats the bed, it’s not a theoretical discussion… it’s a financial nuke on your balance sheet. For instance, the company clocked a $5.9 billion unrealized loss in Q1 2025. So in response, MicroStrategy did what every company does when they’re caught with their pants down in a federal filing… They buried it in an SEC statement saying they’ll “vigorously defend” the case and have no idea what the damages could be.

Oh, and just to prove how deep the delusion goes, over the weekend… MicroStrategy dropped another $765 million into Bitcoin LOL. Michael Saylor over the weekend: “F*k the haters”. You can’t make this stuff up. Sure, Saylor doesn’t hide his belief that Bitcoin is the second coming of Christ in code form. But now that real money is vanishing and investors are holding the bag, the cult leader routine starts to look less like “visionary” and more like “criminal negligence.” The lawsuit is essentially asking the obvious: did these people knowingly mislead the market, and if so, how much should they pay for it? 

(Source: Giphy) 

The weird part about all of this though, is that shares jumped 3.41% yesterday… adding to its soaring 29.56% MTD gains. So apparently, not everyone is pissed… and yet, no one at Microstrategy has publicly commented on the lawsuit yet. Probably because there’s nothing left to say that isn’t going to end up plastered across a discovery request. 

Still though, this is far from over. If the plaintiffs have even half the receipts they claim to, it’s going to be a firestorm for Saylor & The Boys. Meaning, keep your eyes on this story and if you’re a Michael Saylor fanboy… well then, clutch your pearls. Until next time, friends…

P.S. Oh, I’m sorry, I didn’t know you liked getting rekt. Let’s face it, retail investors get the short end of the stick all day everyday. It’s the smart money’s world, and we are just living in it–only useful when it comes to liquidity purposes in the market. Meaning, if you’re as pissed off as I was when I found out Milli Vanilli was lip syncing the whole time, then it’s time to go from investing blind, to investing smart. Luckily for you, the key is right here as a Stocks.News premium member. Click here to see exactly how our premium members are printing while others quake in the face of today’s market chaos. 

Stocks.News does not hold positions in companies mentioned in the article.