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Strategy Shrugs Off Lawsuit, Buys Another Half Billion in Bitcoin

Strategy—formerly MicroStrategy—got hit with a lawsuit last week over its Bitcoin-buying scheme. Today, it announced it bought more.

Michael Saylor's Strategy is now a Bitcoin treasury company. Image: Shutterstock/Decrypt

In brief

Software firm and Bitcoin treasury Strategy—formerly MicroStrategy—was hit with a lawsuit last week.

The company's stock dropped.

But that didn't stop it from buying more Bitcoin.

Bitcoin treasury company Strategy on Monday announced another crypto buy, bringing its total holdings to over 580,250 BTC—worth $63.7 billion at today's prices. 

Strategy—formerly MicroStrategy—said it bought 4,020 BTC last week for an average price of $106,237 per digital coin. That's nearly another half billion worth, as the price of Bitcoin now hovers around $110,000.

The Tysons, Virginia-based software company is the largest corporate holder of the cryptocurrency, and now focuses on buying the asset—at its highs and lows—so that investors can get exposure to Bitcoin via its Nasdaq-listed shares.

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