Bitcoin's Rally Past the $110,000 Mark Sparked a Fresh Round of Buying From Strategy

Bitcoin's rally past the $110,000 mark sparked a fresh round of buying from Strategy, the corporate Bitcoin giant helmed by Michael Saylor.

Bitcoin's blistering rally past the $110,000 mark has enticed Strategy, the publicly traded firm helmed by Michael Saylor, to buy more of the flagship cryptocurrency.

According to a recent filing with the U.S. Securities and Exchange Commission (SEC) on May 23, Strategy bought 4,020 Bitcoin at an average price of $106,237. Together, the latest purchase was valued at $427.1 million.

The latest buy comes just ahead of Bitcoin’s all-time high of over $110,000, which was reached on May 22.

The crypto behemoth is known for his long-standing approach of accumulating Bitcoin regardless of market peaks.

Fourth Purchase in May

After the latest buy, Strategy’s total Bitcoin holdings now stand at 580,250 BTC, which is currently valued at over $63 billion. The firm has spent around $40.61 billion on its Bitcoin stash, with an average price per coin of $69,979.

This marks the company’s fourth BTC acquisition in May alone, reaffirming Saylor’s commitment to long-term accumulation. In late 2024, Saylor declared that he would keep buying Bitcoin at the top “forever.”

However, the company’s stock has seen better days, currently down 6% in the past week. The stock hit a record close of around $474 on November 19.

The class-action suit, which was filed on May 19, claims that Strategy misled shareholders about its Bitcoin investment strategy. The complaint seeks damages for those who traded in the company’s securities between April 1, 2024, and March 31, 2025.

The complaint alleges that in April 2025, at least one institutional shareholder raised concerns with the company regarding its ability to generate revenue and cash flow. Despite this, the complaint alleges that Strategy repeatedly assured investors that its Bitcoin holdings were a valuable and appreciated asset.

The complaint further claims that in August 2024, at least one shareholder questioned the company’s claims about its Bitcoin investment strategy, expressing skepticism toward the claims made in the company’s 10-K filing.

The plaintiffs allege that throughout the class period, defendants made false and misleading statements and material omissions in their communications with investors. These misstatements and omissions are said to have deceived investors, artificially inflating the price of the common stock and causing plaintiffs and other class members to suffer damages.

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