Vanguard has become the largest institutional holder of Strategy shares, generating interest given its previous negative stance on cryptocurrencies.
Details About Vanguard and Strategy
Vanguard holds nearly 8% stake in Strategy, worth $9.26 billion, consisting of over 20 million shares. The largest stake is in the Total Stock Market Index Fund (VITSX) with 5.7 million shares.
Vanguard's Stance on Cryptocurrencies
Despite its significant investments, Vanguard has repeatedly expressed disapproval of cryptocurrencies, labeling them as 'unsuitable' for long-term investors and refusing to add a Bitcoin ETF to its platform.
Experts and Strategy Founder Perspectives
Bloomberg analyst Eric Balchunas described the situation as ironic, stating that 'God has a sense of humor', given Vanguard's obligation to own stocks in index funds. Strategy founder Michael Saylor views this event as a signal of growing institutional support for Bitcoin.
Vanguard's strategy not only raises investment interest but also reflects the evolving relationship towards Bitcoin and cryptocurrencies.
