Company Strategy, led by Michael Saylor, continues to strengthen its position in the Bitcoin market by adding further volumes of cryptocurrency to its holdings.
Acquisition of Bitcoin by Strategy
Strategy has added 4,980 BTC to its holdings, increasing the total to 597,325 BTC at a cost of approximately $531.9 million. The average purchase price now stands at $70,982 per Bitcoin, confirming Strategy's status as the largest corporate holder of Bitcoin worldwide.
Legal Issues and Allegations
Strategy is facing legal troubles after several law firms filed class action lawsuits, accusing the company of securities fraud. The allegations pertain to claims regarding the risks and prospects of the company in the Bitcoin market.
Future Plans of Michael Saylor
Michael Saylor hinted at potential future Bitcoin acquisitions. In a recent post, he expressed confidence in the long-term value of Bitcoin, stating: 'In 21 years, you'll wish you'd bought more.'
The overall strategy of Strategy for acquiring Bitcoin clearly continues despite legal challenges. Michael Saylor maintains his confidence in the long-term potential of the cryptocurrency.
