The post record purchase of $765 million and ongoing legal case appeared on BitcoinEthereumNews.com.

The company Strategy, formerly known as MicroStrategy, while a legal action is ongoing, has taken another bold step in its journey towards leadership in the bull world of cryptocurrencies.  Last week, the company led by Michael Saylor announced the purchase of 7,390 Bitcoin for a total value of approximately 764.9 million dollars, at an average price of just under 103,500 dollars per unit. The operation was made public through an official document filed on May 19 with the Securities and Exchange Commission (SEC) of the United States. However, as anticipated, while Strategy strengthens its position as the main corporate holder of Bitcoin, it is simultaneously at the center of a class action lawsuit.  The lawsuit, filed in the United States District Court for the Eastern District of Virginia, accuses the company’s executives of providing misleading information about the profitability of the investment strategy in Bitcoin.  Furthermore, the accusation is also of not having adequately communicated the risks related to its extreme volatility. A new maxi-purchase of BTC by Strategy while the legal action rages Despite the legal controversies, the numbers are clear: as of May 18, Strategy held 576,230 BTC, purchased in total for about 40.18 billion dollars, with an average price of 69,726 dollars per coin.  At current market values, these holdings are worth over 59.2 billion dollars, generating an unrealized gain of 47%, equal to 19.2 billion dollars. The year-to-date performance of the company’s Bitcoin strategy is 16.3%, a result that strengthens the long-term vision of Michael Saylor and his team, despite the judicial turmoils. The legal case directly involves the main executives of the company: Michael Saylor, executive chairman, Phong Le, president and CEO, and Andrew Kang, executive vice president and chief financial officer.  According to the accusation, the executives allegedly violated several provisions of the Securities…

---

Filed under: News - @ May 19, 2025 5:24 pm