Vanguard Group added 529,105 shares of Strategy to its portfolio, bringing its total position to approximately 10.5 million shares worth $993.5 million. This $50 million increase is a rounding error for the asset manager that oversees trillions of dollars across its index funds and ETFs. Strategy, formerly MicroStrategy, remains the single largest corporate Bitcoin holder in the world, having converted its balance sheet into a leveraged Bitcoin vehicle under Michael Saylor’s leadership. Vanguard’s passive position ties nearly $1 billion of capital to Bitcoin’s price trajectory through a single stock. Unlike active managers who could cut the position on conviction, Vanguard’s passive funds would simply ride losses down until index weightings adjusted.
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