Vanguard is now the largest shareholder of Bitcoin-heavy MicroStrategy
The post Vanguard is now the largest shareholder of Bitcoin-heavy MicroStrategy appeared on BitcoinEthereumNews.com. Vanguard now owns more of MicroStrategy than anyone else. That’s the same Vanguard that called crypto “speculative,” said it had “no place” in long-term portfolios, and blocked Bitcoin ETFs from being traded on its platform. Yet somehow, it’s ended up holding more than 20 million shares of a company whose entire business is buying Bitcoin. That’s nearly 8% of all Class A stock, according to data from Bloomberg. But this didn’t happen because Vanguard changed its mind. It happened because it stuck to its indexing strategy. Vanguard tracks indexes. Strategy got added to the Nasdaq 100. That means Vanguard bought the stock. Now, Vanguard is indirectly pumping billions into Bitcoin — not because it wants to, but because index funds don’t care what a company does, as long as it’s in the index. MicroStrategy, now simply called “Strategy,” just bought another 4,225 Bitcoin last week. The purchase, filed with the U.S. Securities and Exchange Commission on Monday, totaled $472 million at an average price of $111,827 per coin. This latest haul pushed the company’s total Bitcoin stack past $73 billion, which is about 2.8% of the total supply that will ever exist. Strategy has been buying Bitcoin nearly every week. It raised the $472 million by selling preferred shares through an at-the-market program — not common stock this time. These preferred shares don’t expire, and they pay dividends, making them more appealing to certain investors. The entire raise from last week went straight into buying Bitcoin. And it’s paying off. Bitcoin hit $123,000 just yesterday. Vanguard builds a $9.26B stake it didn’t even want While Strategy is out there chasing satoshis, Vanguard is doing what it always does: buying shares in any stock included in its tracked indexes. That strategy made it the largest shareholder of Strategy, with a total…
The post Vanguard is now the largest shareholder of Bitcoin-heavy MicroStrategy appeared on BitcoinEthereumNews.com.
Vanguard now owns more of MicroStrategy than anyone else. That’s the same Vanguard that called crypto “speculative,” said it had “no place” in long-term portfolios, and blocked Bitcoin ETFs from being traded on its platform. Yet somehow, it’s ended up holding more than 20 million shares of a company whose entire business is buying Bitcoin. That’s nearly 8% of all Class A stock, according to data from Bloomberg. But this didn’t happen because Vanguard changed its mind. It happened because it stuck to its indexing strategy. Vanguard tracks indexes. Strategy got added to the Nasdaq 100. That means Vanguard bought the stock. Now, Vanguard is indirectly pumping billions into Bitcoin — not because it wants to, but because index funds don’t care what a company does, as long as it’s in the index. MicroStrategy, now simply called “Strategy,” just bought another 4,225 Bitcoin last week. The purchase, filed with the U.S. Securities and Exchange Commission on Monday, totaled $472 million at an average price of $111,827 per coin. This latest haul pushed the company’s total Bitcoin stack past $73 billion, which is about 2.8% of the total supply that will ever exist. Strategy has been buying Bitcoin nearly every week. It raised the $472 million by selling preferred shares through an at-the-market program — not common stock this time. These preferred shares don’t expire, and they pay dividends, making them more appealing to certain investors. The entire raise from last week went straight into buying Bitcoin. And it’s paying off. Bitcoin hit $123,000 just yesterday. Vanguard builds a $9.26B stake it didn’t even want While Strategy is out there chasing satoshis, Vanguard is doing what it always does: buying shares in any stock included in its tracked indexes. That strategy made it the largest shareholder of Strategy, with a total…
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