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Vanguard, the $10 trillion asset manager that says Bitcoin has no economic value and denies clients access to spot BTC ETFs (exchange-traded funds) on its platform, has become the largest institutional holder of Strategy (MSTR), the biggest corporate buyer of Bitcoin.
Vanguard now owns more than 20 million Strategy shares, or more than 8% of the company’s equity worth about $9.26 billion, according to Bloomberg.
Vanguard’s MSTR Allocation Shows “God Has A Sense Of Humor”
The company’s exposure to MSTR comes from its passively managed index funds that automatically include stocks when they meet certain criteria.
MSTR is now featured in Vanguard’s Total Stock Market Index Fund (VITSX), the Vanguard Extended Market Index Fund (VIEIX) and the Vanguard Growth ETF (VUG).
That comes after Vanguard continues to openly bash the leading crypto for not having “inherent economic value,” labeling it as an “immature asset class” that is not “appropriate” for long-term investors.
“The fact that Vanguard is now the largest shareholder of $MSTR is proof that God has a sense of humor,” said Bloomberg ETF analyst Eric Balchunas in an X post yesterday.
“Indexing into $9 billion of what you openly mock isn’t strategy,” said VanEck head of digital asset research Matthew Sigel in an X post. “It’s institutional dementia.”
Vanguard: Bitcoin is immature and has no value.
Also Vanguard: Buys 20M shares of MSTR, becomes top backer of Bitcoin’s loudest bull.
Indexing into $9B of what you openly mock isn't strategy.
It’s institutional dementia. pic.twitter.com/UdPdHoy3Uv— matthew sigel, recovering CFA (@matthew_sigel) July 14, 2025
Strategy’s BTC Holdings Surpass 600K After Latest Buy
MSTR’s inclusion into Vanguard’s funds came after Strategy announced another Bitcoin purchase.
Michael Saylor, the company’s Executive Chair, confirmed the BTC buy, announcing his firm bought another 4,225 Bitcoin for around $472.5 million.
Strategy has acquired 4,225 BTC for ~$472.5 million at ~$111,827 per bitcoin and has achieved BTC Yield of 20.2% YTD 2025. As of 7/13/2025, we hodl 601,550 $BTC acquired for ~$42.87 billion at ~$71,268 per bitcoin. $MSTR $STRK $STRF $STRD https://t.co/cdUkviddqp
— Michael Saylor (@saylor) July 14, 2025
That latest purchase has pushed Strategy’s BTC holdings to 601,550 BTC, data from Bitcoin Treasuries shows.
Meanwhile, data from SaylorTracker shows Strategy is sitting on over $27.2 billion in unrealized profits with its Bitcoin stash.
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