The Swiss National Bank holds 736,300 shares of Strategy, formerly MicroStrategy, valued at approximately $72 million according to its latest 13F filing. This stake, acquired as early as 2013 before the company’s bitcoin pivot, represents indirect cryptocurrency exposure for an institution whose president has publicly rejected bitcoin as a reserve asset. The bank added roughly 50,720 shares in May 2026, indicating active management of a position that fluctuated between 466,000 and 766,000 shares over the past year. This strategy sidesteps the volatility and liquidity concerns officially cited by the Swiss central bank.
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