Strategy buys 7,390 BTC for $765M, gets hit with class-action lawsuit

Michael Saylor's Strategy bagged another 7,390 Bitcoin last week as prices rallied above $100,000 and got hit with a class-action lawsuit, according to the company's latest SEC filing.

Strategy, formerly MicroStrategy, and the top corporate Bitcoin holder, acquired nearly $765 million of Bitcoin last week. The purchase comes as the company faces a class-action lawsuit.

According to a May 19 announcement, Strategy acquired 7,390 BTC for about $764.9 million at an average price just under $103,500. Strategy reported a Bitcoin yield of 16.3% year-to-date.

According to a May 19 filing with the US Securities and Exchange Commission (SEC) filing, the firm was also just hit with a class action lawsuit. The suit accuses Strategy officials of having failed to represent the nature of Bitcoin investments accurately.

Read more