Bitcoin’s rally past the $110,000 mark sparked a fresh
round of buying from Strategy, the corporate Bitcoin giant helmed by Michael
Saylor. But even as the company doubled down on crypto, its stock tumbled in
the face of legal trouble and insider sales.
Strategy revealed a new purchase of 4,020 Bitcoin
between May 19 and 23, totaling $427.1 million. The average price per coin was
$106,237, placing the buy just ahead of Bitcoin’s all-time high of over
$110,000 on May 22. The move continues Saylor’s long-standing approach of
accumulating Bitcoin regardless of market peaks.
Fourth Purchase in May
The latest buy brings Strategy’s total holdings to
580,250 BTC, worth over $63 billion at current prices. The firm has spent
around $40.61 billion on its Bitcoin stash, averaging $69,979 per coin.
Source: Strategy
This marks the company’s fourth BTC acquisition in May
alone, reaffirming Saylor’s commitment to long-term accumulation. In late 2024,
Saylor declared he would keep buying Bitcoin at the top “forever,” a stance the
company appears to maintain despite price volatility and growing regulatory
scrutiny.
Alongside the Bitcoin purchases, filings show multiple
share sales by Strategy executives. Director Jarrod Patten sold 2,650 MSTR
shares between May 16 and 21, worth nearly $1.1 million. Since late April,
Patten has offloaded 17,050 shares, netting around $6.7 million.
Chief financial officer Andrew Kang also sold 2,185
shares on May 23, valued at $719,447, according to a separate filing. The
insider transactions coincided with Strategy’s large Bitcoin purchases,
potentially signaling diverging views within the company.
Stock Drops 6% After Class-Action Lawsuit
Despite Bitcoin’s gains, Strategy’s stock hasn’t
followed suit, currently down 6% in the past week. The stock hit a record close of around $474 on November 19, 2024,
but investor sentiment has soured following a lawsuit filed on May 19.
The class-action suit alleges the company misled
shareholders about its Bitcoin investment strategy. The complaint seeks damages
for those impacted by what it claims was securities fraud in April 2025.
The legal battle adds a layer of risk for shareholders
even as Bitcoin continues to rally. Saylor’s Strategy remains one of the most
aggressive institutional Bitcoin buyers. While its crypto holdings swell in
value, the firm now faces the dual pressure of shareholder litigation and a
falling stock price.
Bitcoin’s rally past the $110,000 mark sparked a fresh
round of buying from Strategy, the corporate Bitcoin giant helmed by Michael
Saylor. But even as the company doubled down on crypto, its stock tumbled in
the face of legal trouble and insider sales.
Strategy revealed a new purchase of 4,020 Bitcoin
between May 19 and 23, totaling $427.1 million. The average price per coin was
$106,237, placing the buy just ahead of Bitcoin’s all-time high of over
$110,000 on May 22. The move continues Saylor’s long-standing approach of
accumulating Bitcoin regardless of market peaks.
Fourth Purchase in May
The latest buy brings Strategy’s total holdings to
580,250 BTC, worth over $63 billion at current prices. The firm has spent
around $40.61 billion on its Bitcoin stash, averaging $69,979 per coin.
Source: Strategy
This marks the company’s fourth BTC acquisition in May
alone, reaffirming Saylor’s commitment to long-term accumulation. In late 2024,
Saylor declared he would keep buying Bitcoin at the top “forever,” a stance the
company appears to maintain despite price volatility and growing regulatory
scrutiny.
Alongside the Bitcoin purchases, filings show multiple
share sales by Strategy executives. Director Jarrod Patten sold 2,650 MSTR
shares between May 16 and 21, worth nearly $1.1 million. Since late April,
Patten has offloaded 17,050 shares, netting around $6.7 million.
Chief financial officer Andrew Kang also sold 2,185
shares on May 23, valued at $719,447, according to a separate filing. The
insider transactions coincided with Strategy’s large Bitcoin purchases,
potentially signaling diverging views within the company.
Stock Drops 6% After Class-Action Lawsuit
Despite Bitcoin’s gains, Strategy’s stock hasn’t
followed suit, currently down 6% in the past week. The stock hit a record close of around $474 on November 19, 2024,
but investor sentiment has soured following a lawsuit filed on May 19.
The class-action suit alleges the company misled
shareholders about its Bitcoin investment strategy. The complaint seeks damages
for those impacted by what it claims was securities fraud in April 2025.
The legal battle adds a layer of risk for shareholders
even as Bitcoin continues to rally. Saylor’s Strategy remains one of the most
aggressive institutional Bitcoin buyers. While its crypto holdings swell in
value, the firm now faces the dual pressure of shareholder litigation and a
falling stock price.
