Michael Saylor's company pocketed another 7,390 Bitcoin last week when prices rose above 100,000 dollars and was also hit by a class action lawsuit, according to the company's latest filing with the SEC.
Strategy, formerly MicroStrategy, the largest corporate holder of Bitcoin, acquired nearly USD 765 million in Bitcoin last week. The purchase occurred while the company was facing a class action lawsuit.
According to an announcement on May 19, Strategy acquired 7,390 BTC for approximately USD 764.9 million at an average price just below USD 103,500. Strategy reported a Bitcoin return of 16.3% so far this year. The executive chairman of Strategy, Michael Saylor, gave his usual hint about the purchase in a post on X on May 18.
According to a filing on May 19 with the U.S. Securities and Exchange Commission (SEC), the company was also subject to a class action lawsuit. The lawsuit accuses Strategy officials of not accurately representing the nature of investments in Bitcoin.
As of May 18, Strategy owns 576,230 BTC acquired for around USD 40.2 billion at an average price of USD 69,726 per coin. At current prices, the company's total holdings are valued at over USD 59.2 billion, representing an unrealized gain of USD 19.2 billion, or 47%.
According to data from CoinMarketCap, Bitcoin was trading around USD 102,615 at the time of writing, a 20.3% increase in the last month.
