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.
According to a May 19 filing with the US Securities and Exchange Commission (SEC) filing, the firm was also just hit with a class action lawsuit. The suit accuses Strategy officials of having failed to represent the nature of Bitcoin investments accurately.
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