The company, led by Michael Saylor, has made a monumental bet on Bitcoin, accumulating an immense portfolio of the digital asset. Its current holdings stand at approximately 597,325 BTC, valued at nearly $65 billion at current market prices. This significant investment has translated into over $22 billion in unrealized gains, with Q2 2025 alone seeing a fair value gain of $14 billion for its Bitcoin assets. Strategy’s aggressive accumulation during Q2 2025 involved the addition of 41,407 BTC, primarily funded through strategic sales of common stock and preferred equity offerings.
Despite its remarkable investment success, Strategy is simultaneously navigating a class-action lawsuit. The legal action centers on the company's Bitcoin investment disclosure practices. Allegations include claims that Strategy overstated the profitability of its Bitcoin ventures, downplayed associated risks, and failed to fully disclose the financial implications of new accounting standards related to its digital asset holdings. The outcome of this lawsuit could have significant implications for how publicly traded companies report and manage their cryptocurrency treasuries. For now, the pause in acquisitions provides a moment for the market to digest both Strategy's massive holdings and its ongoing legal challenges.