In recent days, Vanguard, the largest asset manager with $10 trillion in assets, has drawn attention with its investments in MicroStrategy, despite its criticism of Bitcoin.
Vanguard's Investment in MicroStrategy
Vanguard is now the largest institutional holder of MicroStrategy (MSTR), owning more than 20 million shares, which represents over 8% of the company's equity valued at approximately $9.26 billion.
Criticism of Bitcoin and Analysts' Reactions
Despite holding a significant stake in MicroStrategy, Vanguard continues to criticize Bitcoin, stating it has no 'inherent economic value' and labeling it as an 'immature asset class.' Analysts like Eric Balchunas from Bloomberg noted that such behavior from Vanguard hints at 'God having a sense of humor,' while others, like Matthew Sigel from VanEck, stated it reflects 'institutional dementia.'
MicroStrategy's Bitcoin Purchase
MicroStrategy, led by Executive Chairman Michael Saylor, recently announced purchasing an additional 4,225 Bitcoin for $472.5 million, raising their total Bitcoin holdings to 601,550 BTC. This information is confirmed by data from Bitcoin Treasuries.
Vanguard's investments in MicroStrategy highlight the mixed opinions surrounding Bitcoin and the significance of institutional investments in the cryptocurrency market. It remains to be seen how this will impact the company's future and the crypto industry as a whole.
