Breaking: Strategy Announces $765 Million Bitcoin Purchase, Faces Class Action Lawsuit
05/19/2025 18:57
Business intelligence firm Strategy has announced yet another purchase
Business intelligence firm Strategy has announced yet another purchase
Business intelligence firm Strategy has expanded its Bitcoin holdings with yet another purchase that was announced earlier today.
This time, the largest corporate holder of the leading cryptocurrency purchased an additional $765 million worth of BTC.
In the meantime, the list of detractors of Strategy co-founder Michael Saylor continues to grow. As reported by U.Today, famous short-seller Jim Chanos, who is mostly known for warning about Enron on the verge of the company's implosion in the early 2000s, recently placed a bet against Strategy while simultaneously buying Bitcoin as a hedge.
In turn, Saylor took to social media to warn short-sellers not to bet against him on Sunday.
"Never short a man who buys orange ink by the barrel," he said, referencing an old Wall Street adage with a Bitcoin spin.
The company's recent filing also reveals that it is facing a class action lawsuit over allegedly misleading statements on the Bitcoin strategy.