Strategy buys 7,390 BTC for $765M, gets hit with class-action lawsuit
19 Maio 2025 - 9:42AM
Cointelegraph
Strategy, formerly MicroStrategy, and the top corporate Bitcoin
holder, acquired nearly $765 million of Bitcoin last week. The
purchase comes as the company faces a class-action lawsuit.
According to a May 19 announcement,
Strategy acquired 7,390 BTC for about $764.9 million at an average
price just under $103,500. Strategy reported a Bitcoin yield of
16.3% year-to-date.
As of May 18, Strategy holds 576,230 BTC acquired for around
$40.18 billion at an average price of $69,726 per coin. At current
prices, the company’s total holdings are valued at more than $59.2
billion, representing an unrealized gain of $19.2 billion, or
47%.
According to CoinMarketCap data, Bitcoin
traded at around $102,615 at the time of writing, up 20.3% over the
last month.
Bitcoin's price chart. Source:
CoinMarketCap
Related: Jim
Chanos takes opposing bets on Bitcoin and
Strategy
Strategy hit with a lawsuit
According to a May 19 filing with the US Securities and
Exchange Commission, “a purported class action lawsuit was filed in
the US District Court for the Eastern District of Virginia against”
the company’s executives, including executive chairman Michael
Saylor, its president and CEO Phong Le and executive vice president
and chief financial officer Andrew Kang.
Strategy officials are accused of “violations of Section 10(b)
of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and Rule 10b-5 thereunder, and Section 20(a) of the Exchange
Act.” The filing states:
“The [suit claims] that the named defendants made false
and/or misleading statements with respect to and/or failed to
disclose information with respect to the anticipated profitability
of our Bitcoin-focused investment strategy and treasury operations,
and the various risks associated with bitcoin’s
volatility.“
Related: Strategy
will beat all public equities with Bitcoin, analyst
says
Strategy keeps inspiring others
Strategy’s Bitcoin treasury strategy has inspired multiple other
companies to follow in its footsteps. Last week, shares of luxury
watchmaker Top Win
surged more than 60% in premarket trading after the company
said it would adopt a Bitcoin accumulation strategy and had changed
its name to AsiaStrategy.
AsiaStrategy said it is partnering with Sora Ventures to
implement its plan, the firm that notably partnered with Metaplanet
in 2024 to create Japan’s first corporate Bitcoin treasury. Also
last week, a Bahrain-based listed catering company with a $24.2
million market cap adopted
a Bitcoin treasury strategy in partnership with investment
firm 10X Capital.
Magazine: Rise
of MicroStrategy clones, Asia dominates crypto adoption: Asia
Express 2024 review
...
Continue reading Strategy buys 7,390 BTC for $765M,
gets hit with class-action lawsuit
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Strategy buys 7,390 BTC for $765M, gets hit with
class-action lawsuit appeared first on
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