MSTR Stock Price Rallies Above $400 Amid 7,390 Bitcoin Purchase & Class Action Lawsuit
Highlights
- Strategy bought 7,390 Bitcoin between May 12 and 18.
- The company now holds 576,230 BTC which it bought for $40.18 billion.
- The MSTR stock is back above $400 following the announcement.
- Strategy is facing a class action suit over misleading statements regarding its Bitcoin Strategy.
Michael Saylor’s Strategy, previously known as MicroStrategy, made another Bitcoin purchase between May 12 and May 18, bringing the company’s total BTC holdings to 576,230. Following the announcement, the MSTR stock price rallied above $400, while the firm is facing a class action suit over misleading statements regarding its Bitcoin Strategy.
MSTR Stock Price Rebounds Over 2% Amid Lawsuit & BTC Purchase
In a press release, the company announced that it has acquired 7,390 Bitcoin for $764.9 million at an average price of $103,498 per BTC. Strategy, once MicroStrategy, has also achieved a BTC yield of 16,3% year-to-date (YTD).
Meanwhile, the company now holds 576,230 BTC, which it acquired for $40.18 billion at an average price of $69,726 per BTC. Saylor’s firm remains the largest corporate Bitcoin holder.
Following the announcement, the Strategy (MSTR) stock price has rallied above the $400 mark. This price surge comes despite the class action against the company and its executives. The lawsuit alleges misleading statements regarding the Bitcoin Strategy.
The MSTR stock price is up over 25% in the last month and boasts a YTD gain of just over 38%, making it one of the best-performing assets in 2025. The stock has even outperformed BTC, up around 8% this year.
Meanwhile, Metaplanet, along with MicroStrategy, continues to accumulate more BTC. CoinGape reported that the Japanese firm recently bought 1,004 Bitcoin and now holds 10,000 BT, which marks 78% of the company’s short-term goal.
CoinGape also reported that Basel Medical Group is looking to adopt a Bitcoin Treasury. The company announced that it has begun negotiations to acquire up to $1 billion worth of BTC for its treasury reserves.
Bitcoin critic Peter Schiff, who had previously predicted an MSTR stock price crash, again commented on the latest Bitcoin purchase. In an X post, he stated that he had expected the company’s average price to rise above $70,000 following this purchase. Schiff added that it would take another week of “reckless buying” for that to happen since it hasn’t happened yet.
Details Of The Lawsuit Against Strategy
According to the SEC filing, the class action is against Michael Saylor, Phong Le, and Andrew Kang for alleged violations of the Securities Exchange Act. The class representative, Anas Hamza, claims on behalf of the investors that the defendants made false or misleading statements and failed to disclose information regarding the anticipated profitability of Strategy’s bitcoin-focused investment strategy and treasury operations.
The plaintiff also alleges that the defendants didn’t disclose the various risks associated with the Bitcoin price’s volatility and the magnitude of the losses. The plaintiff seeks unspecified damages to the class, interest, attorneys’ fees, costs, and other relief. However, Saylor and the firm plan to “vigorously defend” against these claims.
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