MicroStrategy purchased 4,020 BTC for US$427.1M, raising its total holdings to 580,250 BTC, worth over US$63B and representing more than 3% of total supply.
Despite the buy, MicroStrategy faces pressure from insider stock sales and legal challenges.
Other firms like Metaplanet, Nakamoto, and Semler Scientific are following MicroStrategy’s lead in Bitcoin investments.
MicroStrategy's stock, MSTR, has dropped over 7% following a class-action lawsuit filed accusing the company of misleading shareholders over risks tied to its Bitcoin strategy.