Bitcoin Hater Vanguard Benefiting from Rally. Here's How
2025-07-14 19:21:20
Main Idea
Vanguard is profiting from Bitcoin's rally through its significant holdings in MicroStrategy (MSTR), despite publicly criticizing Bitcoin and rejecting Bitcoin ETFs.
Key Points
1. Vanguard owns 20 million shares of MicroStrategy (MSTR), the largest corporate Bitcoin holder, despite its executives publicly denouncing Bitcoin.
2. Vanguard's exposure to Bitcoin is indirect, through passive index investing in MSTR, which is included in indices like the Russell 1000.
3. MSTR's stock has risen nearly 17% in the past month due to Bitcoin's rally, increasing the value of Vanguard's holdings.
4. Vanguard charges management fees based on assets under management (AUM), benefiting from MSTR's stock appreciation.
5. Matthew Sigel of VanEck criticized Vanguard's stance, calling it 'institutional dementia' for investing in what it openly mocks.
Description
Vanguard is benefiting from Bitcoin's record-breaking run despite rejecting the cryptocurrency
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