Vanguard has increased its indirect Bitcoin exposure again, this time through a much larger position in Michael Saylor’s Strategy.
A recent report shows that one of Vanguard’s exchange-traded funds bought 1,210,422 additional shares of MSTR during the last quarter. The new purchase was worth roughly $195 million. Before that transaction, the fund held 832,846 shares of Strategy. It now owns 2,043,268 shares.
The holding is now worth about $254.99 million, according to the portfolio snapshot, and represents 0.73% of the ETF. That is not an outsized weighting in portfolio terms, but it is still a meaningful increase in exposure to a company whose identity is now closely tied to Bitcoin accumulation.
This is the thing with Strategy. Buying the stock is no longer just a view on software or corporate execution. It is, in practice, a levered bet on Bitcoin wrapped inside a public company.
Vanguard’s ETF also posted a small gain in Monday’s intraday session, rising 0.39% to $193.28. The move itself was modest, though the market will likely focus more on the increase in MSTR exposure than on the ETF’s daily fluctuation.
The timing is notable because Strategy has continued to expand its Bitcoin holdings at scale.
On April 20, the company said it acquired 34,164 BTC for $2.54 billion, paying an average price of $74,395 per Bitcoin. Following that purchase, Strategy said it held a total of 815,061 BTC, acquired at an average cost of $75,527.
At current market prices, that amounts to a Bitcoin treasury worth more than $61.5 billion.
So Vanguard’s added MSTR stake lands against a fairly clear backdrop. Strategy is still buying Bitcoin aggressively, and large traditional asset managers, even when not buying BTC directly, continue to increase their exposure through the equity layer built around it.
