Anti-Bitcoin Vanguard Might Be the Largest Institutional Holder of MSTR Stock
Main Idea
Vanguard, despite its anti-Bitcoin stance, has become the largest institutional holder of MicroStrategy (MSTR) shares, a company heavily invested in Bitcoin, through its passively managed index funds.
Key Points
1. Vanguard owns over 20 million shares of MSTR, representing more than 8% of the company, valued at approximately $9.26 billion.
2. Vanguard's exposure to MSTR comes from passively managed index funds, not a deliberate investment in Bitcoin or MSTR's strategy.
3. MicroStrategy has acquired over 600,000 BTC worth about $72 billion since 2020, making its shares a proxy for Bitcoin exposure.
4. Vanguard remains opposed to Bitcoin and does not offer clients access to Bitcoin ETFs, unlike competitors like BlackRock.
5. The situation highlights the irony of Vanguard's significant stake in a Bitcoin-heavy company despite its public stance against the asset class.
Description
Vanguard, the $10 trillion asset manager known in crypto circles for blocking client access to bitcoin ETFs, has emerged as the largest institutional shareholder of Strategy (MSTR), a company whose business model is built around buying and holding bitcoin. According to Bloomberg, Vanguard now owns more than 20 million shares of MSTR — over 8% of the company — surpassing Capital Group as the top institutional holder. The stake is worth about $9.26 billion. "God has a sense of humor," said Bloombe...
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