Michael Saylor’s Strategy, formerly MicroStrategy, continues its aggressive Bitcoin accumulation strategy despite fresh legal challenges. Based on their May 19 filing, the company added 7,390 BTC last week as prices surged above $100,000 while simultaneously facing a class-action lawsuit from shareholders.
Bitcoin Treasury Expands
Strategy acquired 7,390 BTC for approximately $765 million last week at an average price of just under $103,500 per coin, according to the company’s latest filing.
The corporate Bitcoin whale now holds an impressive 576,230 BTC acquired for around $40.2 billion, with an average purchase price of $69,726 per coin. At current prices, with Bitcoin trading around $103K, Strategy’s holdings are valued at more than $59.2 billion, representing an unrealized gain of $19.2 billion or 47% on their investment.
Strategy reported a Bitcoin yield of 16.3% year-to-date, highlighting the profitability of its controversial treasury management approach during the current bull market. The company’s persistent accumulation strategy has continued despite Bitcoin’s significant price increases in recent months, with the cryptocurrency’s value rising 20.3% over the past 30 days alone.
Legal Challenges Mount
While continuing its Bitcoin buying spree, Strategy disclosed in the May 19 SEC filing that it now faces a class-action lawsuit filed in the U.S. District Court for the Eastern District of Virginia. The lawsuit names several key executives as defendants, including Chairman Michael Saylor, President and CEO Phong Le, and Executive Vice President and CFO Andrew Kang.
The legal action accuses Strategy officials of violations of the Securities Exchange Act of 1934, claiming they “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.”
The plaintiff, Anas Hamza, purports to assert claims on behalf of a class of investors for the period from April 30, 2024 to April 4, 2025, alleging that the defendants made false and/or misleading statements regarding the anticipated profitability of the company’s bitcoin-focused investment strategy and treasury operations, and failed to properly disclose various risks associated with bitcoin’s volatility.
Despite these legal challenges, Strategy’s Bitcoin treasury management approach continues to inspire imitators. In addition, the company plans to implement its Bitcoin strategy in partnership with Sora Ventures, which previously helped Metaplanet establish Japan’s first corporate Bitcoin treasury, now holding more Bitcoin than the nation of El Salvador.
Strategy’s continued Bitcoin accumulation comes amid significant developments in the broader cryptocurrency regulatory landscape. Last week, the Texas State Treasury announced plans to establish a strategic Bitcoin reserve of up to $500 million by year-end, becoming the third U.S. state after Wyoming and Florida to adopt such measures.
Meanwhile, the US Senate Banking Committee voted 14-9 to advance the Digital Asset Market Structure bill, which includes provisions for stablecoin regulation that could potentially impact Bitcoin markets by providing clearer onramps between traditional finance and cryptocurrencies. These developments align with Strategy’s long-standing position that institutional and governmental adoption of Bitcoin as a treasury reserve asset would accelerate in 2025.
