How Strategy's Bitcoin Bet Transformed Its Stock and Sparked Controversy
Strategy, under CEO Michael Saylor, has emerged as the largest corporate holder of Bitcoin, amassing over 279,000 coins. This bold investment strategy began in August 2020, positioning Bitcoin as the company’s primary treasury reserve.
As a result, Strategy's stock has skyrocketed, witnessing a remarkable 2,300% increase over three years and a staggering 147% over just nine months. The company recently reported $14 billion in unrealized gains, although it faces legal challenges, including a class-action lawsuit alleging misleading accounting practices.
Despite these hurdles, Strategy's significant Bitcoin holdings, valued at over $65 billion, continue to draw attention in the financial world. The future of this tech stock remains intertwined with the volatile cryptocurrency market.
The press radar on this topic:
Strategy to raise $4.2B as Q2 unrealized Bitcoin gains hit $14B
Lawsuit targets Michael Saylor’s Strategy as firm's Bitcoin stash exceeds $65 billion
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