Odaily Planet Daily News Strategy (formerly MicroStrategy) has faced class action lawsuits initiated by at least five law firms for suspected securities fraud due to its public statements related to Bitcoin investment. Several 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 Strategy's purchase of $7.7 billion in Bitcoin in the first quarter of 2024, resulting in nearly $6 billion in unrealized losses 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 cannot predict the outcome of the case. (Decrypt)