Strategy, formerly known as MicroStrategy, has expanded its Bitcoin holdings again with a purchase worth $427.1 million. The acquisition includes 4,020 BTC at an average price of $106,237 per coin, pushing the company’s total Bitcoin reserve to 580,250 BTC as of May 26.
This marks the seventh consecutive week of the firm’s accumulation of Bitcoin. At present, the company owns Bitcoin worth $40.61 billion, and each token was purchased for $69,979. Even though the market costs are high, Strategy has continued to invest in the same amount.
In 2025, the company posted a BTC Yield of 16.8 percent for the year, a metric not based on GAAP standards to show Bitcoin earnings. However, the EBITDA has caused controversy among financial analysts who are unsure about its openness and adherence to regular accounting guidelines.
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Strategy acquired 7,390 BTC worth close to $765 million in a single deal last week. That brought the company’s unrealized gains to $23.1 billion, a figure that surpasses the market cap of several major U.S. firms. The firm’s aggressive actions demonstrate that it still believes Bitcoin will grow in value.
Michael Saylor, Strategy’s co-founder, said more purchases may occur soon. In a recent post on X, he said, “I only purchase Bitcoin using funds I can afford to lose.” For many, his comment indicated that he remained confident about making purchases, risks aside.
Mounting Legal Pressure Over Bitcoin Accounting
While Bitcoin accumulation continues, Strategy is facing legal scrutiny. Pomerantz LLP has filed a class action lawsuit in the Eastern District of Virginia. The suit alleges that the company misled investors about the financial implications of new Bitcoin accounting standards.
ASU 2023-08 is central to the case, which addresses the fair-value measurement of crypto assets. The lawsuit claims Strategy failed to disclose a potential $5.91 billion fair-value loss tied to its Bitcoin holdings.
It also challenges using terms like “BTC Yield” and “BTC $ Gain,” arguing that they do not align with GAAP principles.
The concerns raised in the lawsuit were echoed in the company’s May 1 earnings report. Investors have since voiced frustration over what they describe as selective financial disclosures that may obscure risk.
Jeff Walton, a market analyst who was quoted in the Financial Times, defended the company’s strategy. According to Walton, Strategy could become the most valuable public company due to its Bitcoin reserves and ability to raise capital swiftly. Still, the legal battle could test investor confidence in the months ahead.
Conclusion
Strategy’s commitment to Bitcoin remains firm with another multi-million-dollar purchase. However, the mounting legal challenges over its accounting practices cast a shadow on its financial reporting. The lawsuit’s outcome could shape the firm’s future transparency and investor relations approach.
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