Investment company Vanguard, which manages assets exceeding $10 trillion, has become the largest shareholder of Strategy (formerly known as MicroStrategy), a leader among corporate investors in Bitcoin. According to recent data, Vanguard owns over 20 million Class A shares of Strategy, representing about 8% of its equity. The total value of this stake exceeds $9.2 billion.
This is reported by Finway
Vanguard and Passive Investing: Why the Company Holds a Stake in Strategy
The acquisition of shares in Strategy resulted from Vanguard’s passive indexing approach. Its index funds, including VITSX, VIEIX, and VUG, included Strategy’s securities in their portfolios based on stock index dynamics, regardless of the company’s overall stance on crypto assets. Through this strategy, despite skepticism towards cryptocurrencies, Vanguard has effectively positioned itself among the largest players in the digital asset market.
Strategy, led by Michael Saylor, has been actively accumulating Bitcoin since 2020, utilizing stock and bond issuance for this purpose. Currently, the firm holds over 600,000 BTC, making it the largest corporate owner of this cryptocurrency. Saylor himself controls nearly 20 million shares of the company.
Contradictions Between Vanguard’s Strategy and Its Actual Investments
Despite Vanguard’s repeated statements about a lack of interest in crypto assets and its refusal to launch a Bitcoin ETF or support their trading, its passive funds have provided millions of clients with access to the cryptocurrency market. Former Vanguard CEO Tim Buckley referred to Bitcoin as “immature” and lacking intrinsic value, considering its addition to portfolios an undesirable move.
At the same time, the rapid growth of Strategy’s shares—over 850% in the last two years—has brought significant profits to Vanguard and its shareholders. Analysts emphasize that this is not an isolated case: due to its indexing approach, Vanguard is the largest shareholder in about 400 companies on the S&P 500 list.
“According to Bloomberg ETF analyst Eric Balchunas, there is an unexpected similarity in the approaches of Strategy and Vanguard: both companies adhere to a philosophy of long-term asset holding regardless of market fluctuations.”
It is worth noting that Strategy previously reported over $14 billion in unrealized gains for the second quarter of 2025.