Strategy Buys Massive Bitcoin Holdings Amidst Lawsuit, Targets $42 Billion by 2027

Michael Saylor’s company, Strategy, a previously known as MicroStrategy, has made a significant move in the cryptocurrency market. The firm recently acquired approximately $765 million worth of Bitcoin, adding to its already substantial holdings. With this latest purchase, Strategy now holds a total of 576,230 BTC and aims to reach a target of $42 billion in Bitcoin holdings by 2027. 576,230 BTC were acquired at an average price of $103,498 per Bitcoin, costing the company roughly $40.8 billion. This purchase comes as Strategy faces a class action lawsuit alleging misleading statements regarding its Bitcoin investment strategy and risk disclosure.