Rosen Law Firm investigates Strategy and Michael Saylor for misleading business claims

Rosen Law Firm has opened an investigation into Strategy Inc. and its founder Michael Saylor over potential securities claims tied to misleading business practices. The probe, announced on June 25, 2026, targets the company that has become practically synonymous with corporate Bitcoin accumulation, currently sitting on a stash of 846,842 BTC.

What Rosen is looking at

Rosen Law Firm is a nationally recognized investor rights firm that typically investigates potential securities fraud on behalf of shareholders. Their announcement focused on whether Strategy and Saylor may have made misleading claims about the company’s business, though the specific allegations remain under wraps for now.

Strategy effectively transformed itself into a leveraged Bitcoin vehicle, raising capital through stock issuances and other financing mechanisms to buy more and more Bitcoin. The company’s entire investment thesis rests on the conviction that Bitcoin’s long-term appreciation will outpace the cost of capital used to acquire it.

Shares of Strategy and related instruments have declined sharply in mid-to-late June 2026, pressured by a combination of Bitcoin price weakness and growing investor anxiety about stock dilution.

The Bitcoin treasury machine

The company holds 846,842 BTC as of June 2026. In early June 2026 alone, Strategy purchased 1,550 BTC for approximately $101.3 million, averaging around $65,332 per coin. That acquisition was financed in part through $181 million in stock sales.

The company also sold 32 BTC worth roughly $2.5 million to cover dividend payments around the same time.

Saylor, who founded the company in 1989, has been the public face of this strategy for years, frequently making the case that Bitcoin is the ultimate store of value and that holding it on a corporate balance sheet is a fiduciary imperative.

Why this matters beyond one company

Strategy’s approach has inspired a wave of imitators. Dozens of companies, some public and some private, have adopted versions of the leveraged Bitcoin treasury playbook, using equity issuances, convertible notes, and other instruments to fund cryptocurrency purchases.

There have been no public responses from Strategy or related SEC filings addressing the investigation.

Strategy’s 846,842 BTC position is large enough that any forced selling, whether from legal settlements, operational needs, or capital structure adjustments, could meaningfully impact Bitcoin’s price.

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