Strategy Buys $765 Million Bitcoin, Faces Class Action Lawsuit

Business intelligence firm Strategy recently expanded its Bitcoin holdings with a new purchase totaling $765 million. This brings their total Bitcoin reserves to 576,240 coins, with an average buying price nearing the $70,000 mark. The move has drawn both support and criticism for co-founder Michael Saylor. Famous short-seller Jim Chanos placed a bet against Strategy, while simultaneously investing in Bitcoin as a hedge. Saylor responded on social media by urging short-sellers not to bet against him.