Strategy buys $765 million in Bitcoin amid class action lawsuit
Strategy adds $765M in BTC, expands its Bitcoin holdings
Strategy, a business intelligence firm best known for its aggressive cryptocurrency strategy, announced the purchase of an additional $765 million worth of Bitcoin, solidifying its position as the largest corporate holder of BTC.
The announcement, made earlier today, underscores the company’s ongoing commitment to the digital asset, even amid legal and financial scrutiny, U.today informs.
Key takeaways
- Strategy continues to increase on Bitcoin with $765M purchase. The firm continues to lead corporate Bitcoin accumulation, reinforcing its conviction in BTC’s long-term value despite market and regulatory uncertainty.
- Facing a class action over Bitcoin disclosures. The lawsuit alleges that Strategy misled investors about its Bitcoin strategy.
- Michael Saylor remains a central figure. As co-founder and vocal Bitcoin advocate, Saylor’s influence and visibility continue to drive both attention and controversy around Strategy's crypto approach.
Class action lawsuit and market skepticism
The latest acquisition follows a string of similar large-scale buys championed by Strategy’s co-founder and executive chairman, Michael Saylor, a prominent advocate for Bitcoin. Saylor confirmed the purchase on X, signaling continued bullishness on BTC despite market volatility and mounting regulatory pressure.
Loading...
It is also interesting that since August 2020, $MSTR has outperformed $NVDA by about 3x.
Source: Michael Saylor (@saylor)
Simultaneously, Strategy disclosed in a recent filing that it is now facing a class action lawsuit, alleging the company made misleading statements regarding its Bitcoin strategy. Although details of the complaint remain limited, the case has attracted attention amid growing skepticism over the long-term viability of corporate Bitcoin accumulation.
Among the firm’s critics is veteran short-seller Jim Chanos, who gained prominence for exposing Enron in the early 2000s. Chanos has reportedly shorted Strategy while hedging with Bitcoin itself—a nuanced bet that reflects both criticism of the company’s internal governance and a belief in Bitcoin’s broader potential.
Chanos quipped, “Never short a man who buys orange ink by the barrel,” a reference to Saylor’s flamboyant Bitcoin evangelism and the original Wall Street adage cautioning against betting against prolific media personalities.
Looking ahead
While Strategy continues to increase down on its Bitcoin holdings, the class action lawsuit could test investor confidence and force greater transparency around its communications. The outcome may not only shape the company’s future but also influence how corporate Bitcoin strategies are scrutinized by regulators and the market.
As the crypto sector matures, firms like Strategy are increasingly navigating a dual landscape—one of innovation and legal accountability.
We also wrote that Michael Saylor calls Bitcoin the future of global wealth.
