Investment company Vanguard, which considers Bitcoin an "immature, speculative asset", has become the largest institutional holder of Strategy shares, according to Bloomberg.
The firm holds a stake of nearly 8%, worth $9.26 billion. It includes more than 20 million shares. The largest stake—5.7 million shares—is in the Total Stock Market Index Fund (VITSX).
Vanguard did not select Strategy stock in a targeted way. The purchase was automatic because the company is included in various stock indexes. Vanguard's passive funds are required to track these indexes by purchasing the corresponding assets.
The investment firm's management has repeatedly expressed its aversion to cryptocurrencies. The company called them "unsuitable" for long-term investors and refused to add a spot Bitcoin ETF to its platform.
"We don't believe this asset has a place in the portfolio," said Vanguard's former CEO Tim Buckley.
Bloomberg analyst Eric Balchunas called the situation ironic.
"God has a sense of humor. By choosing the path of index funds, Vanguard is obligated to own all stocks—whether it likes them or not," he explained.
Strategy founder Michael Saylor sees the event as "a powerful signal of growing institutional support for Bitcoin." In his opinion, it reflects the acceptance of digital gold as a reserve asset by the traditional financial community.
Strategy is the largest corporate holder of the first cryptocurrency. At the time of writing, the company owns 601,550 BTC, representing over 2.8% of Bitcoin's total supply and valued at more than $73 billion. The company recently acquired an additional 4,225 BTC for $472.5 million, highlighting its ongoing aggressive accumulation strategy. As Bitcoin prices hover near all-time highs, Strategy's total unrealized gains exceed $30 billion, illustrating both the scale and impact of its bold treasury approach.
