Bitcoin Rally Triggers $765 Million Buy from Strategy, Now Holds 576,230 BTC!

Strategy, formerly known as MicroStrategy, added another major chunk of Bitcoin to its treasury last week, even as it became the subject of a class-action lawsuit. The company picked up 7,390 BTC for roughly $764.9 million, just as Bitcoin prices climbed past $100,000.

Good to know

• Strategy acquired 7,390 BTC last week at an average price below $103,500.
• The company now holds 576,230 BTC, worth over $59.2 billion.
• A class-action lawsuit was filed against Strategy and key executives over Bitcoin-related disclosures.

On May 19, Strategy disclosed through an SEC filing that it had purchased 7,390 more Bitcoin, bringing its total holdings to 576,230 BTC. The new purchase was made at an average cost of around $103,500 per coin, with the total value just under $765 million.

Michael Saylor hinted at the acquisition in a May 18 post on X, a move consistent with his usual pattern of previewing large buys.

The company has been the largest corporate holder of Bitcoin and has stuck to its buying strategy through multiple price cycles. As of May 18, Strategy reported its Bitcoin position had grown 16.3% year-to-date.

Lawsuit lands alongside new buy

While Strategy boosted its crypto position, it also revealed legal trouble. According to the same May 19 filing with the SEC, a class-action lawsuit was filed in the U.S. District Court for the Eastern District of Virginia. The suit targets Strategy and three executives: chairman Michael Saylor, CEO Phong Le, and CFO Andrew Kang.

The lawsuit alleges the defendants misrepresented key information about the company’s Bitcoin investment strategy. Specifically, the suit accuses them of making false or misleading statements and failing to disclose the risks tied to Bitcoin’s volatility and the company’s treasury approach.

According to the filing, the complaint involves violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5.

Unrealized gains continue to grow

Despite the legal challenge, Strategy’s Bitcoin position has delivered strong returns. The company acquired its total holdings for approximately $40.2 billion at an average cost of $69,726 per coin. At current prices, that investment is now worth over $59.2 billion, giving Strategy an unrealized gain of about $19.2 billion—or 47%.