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Strategy’s $40 Billion Bet In Trouble? New Lawsuit Opens Can Of Worms

by admin May 20, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Strategy’s $40 billion Bet on Bitcoin has become the subject of a class action lawsuit. The plaintiffs accuse the company’s executives of making misleading statements. This comes amid the firm’s latest purchase of 7,390 BTC. 

Strategy Faces Lawsuit Over Bitcoin Bet

According to Strategy’s filing with the SEC, the plaintiffs filed a class action lawsuit against the firm on May 16 against the company, its co-founder, Michael Saylor, the CEO, Phong Le, and Executive Vice President Andrew Kang. The lawsuit alleges that Strategy and its executives violated the Securities Exchange Act. 

The plaintiff and class representative Anas Hamza claims on behalf of the class of investors that from April 30, 2024, to April 4, 2025, the defendants made false and misleading statements with respect to Strategy’s Bitcoin Treasury. 

The investors further allege that Strategy and its executives failed to disclose information about the anticipated profitability of its bitcoin-focused investment strategy and treasury operations. Saylor and his company are also accused of failing to disclose the various risks associated with BTC’s volatility and the magnitude of the losses. 

The company and its executives plan to defend against these claims rather than reach a settlement. The plaintiffs are seeking unspecified damages, which extend to fees, costs, and other reliefs. 

Strategy revealed the details of the lawsuit alongside its announcement of another Bitcoin purchase. The company, previously known as MicroStrategy, announced that it had acquired 7,390 Bitcoin for $764.9 million at an average price of $103,498 per BTC. The firm has also achieved a BTC yield of 16.3% year-to-date (YTD). 

Saylor’s firm has now acquired a total of 576,230 BTC for $40.8 billion at an average price of $69,726 per BTC, making it the largest corporate Bitcoin holder.

BTC And MSTR Stock Rally Despite The Lawsuit

The Bitcoin price and MSTR stock rallied despite news of the lawsuit against Strategy. BTC surged from its intraday low at around $102,000 and closed May 19 above $105,000. Meanwhile, MSTR also enjoyed a 3% gain on the day, rallying above the psychological $400 level. 

Analysts predict that the Bitcoin price could soon hit a new all-time high (ATH), which is also bullish for the MSTR stock. Crypto analyst Titan of Crypto revealed that BTC has broken out of a clear bull pennant on the daily chart. He added that new all-time highs could be around the corner if this move holds. His accompanying chart showed that the flagship crypto could rally to as high as $112,000 on this breakout. 

Source: Titan of Crypto on X

At the time of writing, the Bitcoin price is trading at around $105,500, up over 3% in the last 24 hours, according to data from CoinMarketCap.

BTC trading at $105,361 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from Adobe Stock, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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May 20, 2025 0 comments
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Best Crypto to Buy as JPMorgan Embraces Bitcoin and Bull Market Returns
Crypto Trends

Best Crypto to Buy as JPMorgan Opens Bitcoin Gate to Clients: $BTC to Rally Soon?

by admin May 20, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin just got a surprising nod – from Jamie Dimon of all people.

That’s right, the CEO of JPMorgan, one of Bitcoin’s loudest critics over the years, now says his bank will allow clients to buy the cryptocurrency.

While JPM won’t hold the coins itself, it’s still a huge symbolic shift. If the biggest Bitcoin hater on Wall Street is giving in, maybe the floodgates really are about to open.

Add to that Fidelity’s recent claim that Bitcoin is ready to carry gold’s ‘baton,’ and things start looking like a crypto fairytale.

Bitcoin is back above six figures, ETFs are climbing again, and whales are quietly waking up. Derivatives open interest has nearly doubled since March, and while things may stay choppy for a while, all signs point to something big on the horizon.

Let’s break down why JPMorgan’s shift matters – and why the best crypto to buy might rally as Bitcoin begins its next run.

Even Jamie Dimon Can’t Ignore Bitcoin Anymore

JPMorgan has been one of the latest big banks to cave. Morgan Stanley and others were already letting wealthy clients dip their toes into digital assets. JPMorgan simply couldn’t afford to sit this out any longer.

So while Dimon still talks trash about crypto, his bank now offers clients access to Bitcoin. The move is symbolic more than anything. If even JPMorgan’s fortress is cracking, the institutional dam might truly be breaking.

Combine that with Fidelity and JPMorgan saying Bitcoin could replace gold, and it’s clear that traditional finance is starting to respect the asset.

Add bullish technical indicators, ETF momentum, and whales increasing activity, and you’ve got a recipe for a rally.

So, what are the best new crypto projects to watch while the market heats up?

1. BTC Bull Token ($BTCBULL) – The Meme Coin That Mirrors the King

BTC Bull Token ($BTCBULL) is what happens when meme coin culture meets real Bitcoin strategy.

Built to track and amplify Bitcoin’s gains, $BTCBULL offers a way for retail investors to ride the Bitcoin wave – with far more upside and fewer entry barriers.

At just $0.00252, and with over $6M already raised in presale, the token is gaining serious traction as the bull market heats up.

But $BTCBULL isn’t just another hype coin. It’s the first meme token that rewards holders with real Bitcoin – not promises, not points, actual $BTC.

Every time Bitcoin crosses a major milestone (like $150K, or $200K), $BTCBULL burns tokens to increase scarcity and sends airdrops – but only to those who bought tokens through Best Wallet and still hold them there.

If you bought $1K worth of $BTCBULL today at the current price of $0.00252, you’d receive around 397K tokens. Stake those tokens at a 15% APY, and by the end of the year, your total would grow to roughly 456,550 tokens.

At today’s price, that would be worth about $1,150 – a nice boost just for holding. But if $BTCBULL reaches its 2025 price prediction of $0.06467, that same stash could be worth over $29.5K.

That’s nearly 30x your original investment, all from getting in early, staking smart, and riding the wave. JPMorgan finally opening the gates to Bitcoin might be the trigger that sends it all soaring.

And you can get in at the earliest stage, before the token is even listed on exchanges.

2. Best Wallet Token ($BEST) – Your All-Access Pass to Crypto’s Next Big Ecosystem

With Bitcoin reclaiming the spotlight and giants like JPMorgan finally giving in to client demand, there’s never been a better time to back the infrastructure that makes crypto usable.

Enter Best Wallet Token ($BEST) – the utility token powering one of the most innovative new wallets in crypto.

While the wallet itself is set to challenge dinosaurs like MetaMask with its sleek interface and powerful multi-chain features, $BEST is the key to unlocking its real value.

At just $0.025055, and with over $12.5M raised in presale, it’s still early – but the roadmap looks built for serious gains.

Buying and holding $BEST gives users real perks: reduced transaction fees, early access to new token launches, higher staking rewards, and bonuses through exclusive iGaming partnerships like free spins, deposit boosts, and lootbox access.

Plus, the ‘Upcoming Tokens’ tool is a game-changer, letting users discover and buy new crypto presales safely from inside the app.

Powered by Fireblocks-grade security, backed by a fast-growing user base, and tied to an ecosystem with real daily utility, $BEST isn’t just a token – it’s your all-access pass to the next wave of Web3 adoption.

If Bitcoin is the new gold, $BEST is the pickaxe.

3. SPX6900 ($SPX) – The Meme Coin That Turns Market Madness Into a Movement

In a crypto world where everyone’s trying to be the next serious protocol, SPX6900 ($SPX) flips the script – and sets it on fire for laughs.

Currently trading at $0.725, this viral meme coin is part absurdist comedy, part internet rebellion, and completely unapologetic.

Source: CoinMarketCap

Think of it as the anti-Wall Street coin with a cult-like following and a mission to satirize everything boring about finance.

But SPX6900 isn’t just memes for meme’s sake. It’s built on community-powered momentum, with a strong visual identity, rapid-fire social media presence, and a core message: take your gains seriously, not yourself.

It’s already carving out its own cultural niche, much like $DOGE and $PEPE did before it – and we all know how that turned out.

There’s no DeFi dashboard or staking farm here. The value is in the hype, and the team behind it knows how to push the right buttons. If you’re looking for logic, look elsewhere. If you’re looking for a ride, hop on.

And with Bitcoin back in six-figure territory and JPMorgan finally giving in to demand, meme coins like SPX6900 are poised to ride the wave of renewed retail interest straight to viral status.

The Market’s Heating Up – Here’s What to Watch Before the Next Big Move

With JPMorgan opening the door, Bitcoin reentering six-figure territory, and whale activity on the rise, the next big move could be closer than people think.

If you’re looking for the best crypto to buy before things really heat up, these three are worth watching.

$BTCBULL is built to mirror the bull run. $BEST is your one-stop wallet for when things explode. And $SPX? It’s here for the memes, and sometimes, that’s all it takes.

Always do your own research (DYOR) before investing in crypto. This article is for informational purposes only and doesn’t constitute financial advice.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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May 20, 2025 0 comments
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Bitcoin
GameFi Guides

JPMorgan Opens The Door To Bitcoin: CEO Supports Client Crypto Purchases

by admin May 20, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

JPMorgan Chase has announced it will allow clients to purchase Bitcoin (BTC), marking a notable development in the mainstream acceptance of cryptocurrency. However, CEO Jamie Dimon, a long-time critic of Bitcoin and the broader crypto market, clarified that his personal views on the digital currency remain unchanged.

Clients Can Buy Bitcoin, But Skepticism Remains

During JPMorgan’s annual investor day on Monday, Dimon stated, “We are going to allow you to buy it. We’re not going to custody it. We’re going to put it in statements for clients.” 

This decision comes amid a growing trend among financial institutions to embrace cryptocurrency, with competitors like Morgan Stanley already offering access to spot Bitcoin exchange-traded funds (ETFs) for qualifying clients since August.

Despite this progressive move, Dimon reiterated his skepticism about Bitcoin, citing concerns related to money laundering and the lack of clarity surrounding ownership. 

He pointed out that Bitcoin has been associated with “the sex trafficking, the terrorism,” indicating his belief that its primary use cases are problematic. “I don’t think you should smoke, but I defend your right to smoke,” Dimon remarked, adding, “I defend your right to buy Bitcoin.”

JPMorgan Explores Direct Crypto Investments

While JPMorgan has primarily limited its crypto offerings to futures-based products, the bank is reportedly considering providing clients access to Bitcoin ETFs, which would allow for a more direct investment in the cryptocurrency. 

Historically, Dimon has been vocal about his opposition to Bitcoin; during a Senate hearing in late 2023, he described it as “worthless” and claimed that its only true use case is for criminal activity.

His skepticism was further emphasized at the 2024 World Economic Forum in Davos, where he dismissed BTC as “the pet rock,” expressing frustration over the ongoing media discussions about it. “This is the last time I’m talking about this with CNBC, so help me God,” he declared.

The context for JPMorgan’s decision comes amid a changing regulatory landscape in the US. Following the election of President Donald Trump, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) began to ease their anti-crypto guidance, allowing banks greater flexibility in their dealings with digital assets. 

Although the Federal Reserve (Fed) has issued notices restricting certain crypto activities, banks can now custody cryptocurrencies, which was previously hindered by an accounting rule known as SAB 121.

The daily chart shows BTC’s price attempt to consolidate above $105,000. Source: BTCUSDT on TradingView.com

At the time of writing, BTC is trading at $105,400, which is just 3% below its record high of $109,000 achieved during the first quarter uptrend of the market. Looking at monthly gains, the market’s leading cryptocurrency has recovered 24% after dropping sharply to $74,000 in April.

Featured image from DALL-E, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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May 20, 2025 0 comments
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