Bitcoin bear Vanguard is now the largest shareholder of Strategy

Vanguard, 1 of the world’s largest concern absorption firms, is present the biggest organization shareholder of Strategy (MSTR) — Michael Saylor's institution champion known for adopting Bitcoin arsenic its superior treasury reserve asset.

According to information from concern probe level Intel, Vanguard has accumulated much than 20 cardinal shares of MSTR, representing astir 8% of MicroStrategy’s outstanding Class A communal stock. The involvement gives Vanguard indirect vulnerability to implicit 200,000 Bitcoin (BTC) held connected Strategy’s equilibrium sheet, representing a 26.3% leap betwixt January and April 2025.

Many of Vanguard’s funds see vulnerability to the Vanguard Total Stock Market Index Fund, which holds MicroStrategy arsenic portion of its wide US equity allocation. The banal besides appears successful dozens of Vanguard communal funds and exchange-traded funds (ETFs) tracking mid-cap benchmarks.

Vanguard is simply a longstanding skeptic of Bitcoin and cryptocurrencies. Despite becoming Strategy’s largest organization shareholder, the steadfast has consistently warned clients astir crypto volatility and, dissimilar rivals, has refused to connection entree to spot Bitcoin ETFs.

Vanguard Group owns implicit 20 cardinal shares of MSTR. Source: Intel

Vanguard inactive bearish contempt IBIT’s Success

Over the years, Vanguard has been 1 of the biggest Bitcoin and crypto bears successful accepted finance. And contempt its vulnerability to Strategy, that attitude doesn’t seem to beryllium changing. 

In an interrogation with Bloomberg TV successful May, Vanguard CEO Salim Ramji was asked whether the institution would accommodate a lawsuit who wants to adhd Bitcoin to their portfolio. He declined, emphasizing that Vanguard does not get “caught up successful the latest fad, but we’re dependable for the agelong term.” 

Related: Strategy bags different $472M successful BTC arsenic Bitcoin jumps to caller highs

In a caller interrogation with ETF.com, Ramji said that Vanguard was not "in the concern of making bets connected speculative assets similar Bitcoin," adding, “That’s just not accordant with the concern philosophy we’ve built implicit 50 years."

Meanwhile plus manager BlackRock has seen its iShares Bitcoin Trust ETF (IBIT) rapidly go the company’s most profitable ETF. According to Bloomberg Senior ETF expert Eric Balchunas, it’s connected way to scope $100 cardinal successful assets nether absorption successful the coming months.

I wrote past wk that $IBIT could deed $100b this summer, but hell, could beryllium this month. Thx to caller flows + overnight rally it's already astatine $88b. At lone 1.5yrs aged is present 20th biggest successful US, 7th biggest for BlackRock (and their #1 astir profitable ETF). Un-freaking-believable. pic.twitter.com/r5FLwKSE7j

“God has a consciousness of humor”

Vanguard’s unexpected vulnerability to Bitcoin has shed airy connected the quirks of passive investing.

Bloomberg ETF expert Eric Balchunas summed it up: “When you person an scale fund, you person to ain each the stocks, for amended oregon worse — and that includes stocks you whitethorn not similar oregon o.k. of personally.” He added that Vanguard’s outsized vulnerability to Strategy, a institution synonymous with Bitcoin maximalism, is simply a reminder that “God has a consciousness of humor.”

The information that Vanguard is present the largest shareholder of $MSTR is impervious that God has a consciousness of humor, oregon astatine slightest that was my absorption to @VildanaHajric who wrote communicative astir it retired contiguous pic.twitter.com/TLg4iqT3kQ

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