🔥 $BTC Bitcoin Bags Up, Lawsuit Rolls In — What’s MicroStrategy’s Play?

Despite facing fresh legal heat over its crypto investment strategy, MicroStrategy continues to double down on Bitcoin — amassing more digital gold and raking in capital from share sales.

Between May 12 and May 18, 2025, MicroStrategy raised $765.4 million through two at-the-market (ATM) share offerings. This included the sale of 1.71 million MSTR common shares and 621,555 STRK preferred shares, significantly boosting the company’s liquidity. A bulk of these proceeds went straight into its ongoing Bitcoin acquisition spree.

During the same period, the company purchased 7,390 BTC for approximately $764.9 million, paying an average of $103,498 per coin. This pushed its total holdings to 576,230 BTC, acquired at an average price of $69,726 per BTC — representing a staggering $40.18 billion in bitcoin assets.

But not all the news was bullish.

On May 16, a class action lawsuit was filed against MicroStrategy, its founder Michael Saylor, and executives Phong Le and Andrew Kang. The suit alleges that the company misled investors regarding the profitability and risks of its Bitcoin-centric approach — particularly in light of accounting rule changes under ASU 2023-08, which could expose the firm to increased volatility and potential losses.

Despite the legal headwinds, MicroStrategy remains transparent with the public. It continues to maintain a real-time dashboard at www.strategy.com, offering live updates on its Bitcoin purchases, stock movements, and overall strategy.

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