Ah, the delicious irony! Vanguard, the financial titan that has long scoffed at Bitcoin, is suddenly basking in the glowing warmth of the cryptocurrency’s record-breaking surge. Not that they’ve been shy about their disdain for it, of course. No, they’ve been quite vocal about labeling Bitcoin as an “immature” asset. A tempestuous young thing, not fit for the delicate hands of long-term investors. Economic value? Pfft, according to Vanguard, it’s as mythical as a unicorn.
But here’s the kicker: despite dismissing the very idea of Bitcoin, the firm is happily holding a staggering 20 million shares of Strategy (formerly MicroStrategy). Yes, the same company that is, in essence, a Bitcoin proxy. Vanguard, the great Bitcoin critic, is actually the largest shareholder in the top corporate Bitcoin hoarder. It’s like watching someone shout “I hate seafood!” while slurping down oysters on the half-shell.
Vanguard has adamantly refused to dive into the Bitcoin ETF pool, even as BlackRock has swum to success. But hey, no worries! They’ll still cash in on a company that’s essentially a Bitcoin ETF in disguise. Meanwhile, investors eager to buy actual spot Bitcoin ETFs on Vanguard’s brokerage platform? Sorry, try somewhere else.
“Indexing into $9B of what you openly mock isn’t strategy, it’s institutional dementia,” quipped Matthew Sigel, head of digital assets at VanEck. The man has a point, but don’t expect Vanguard to take it too seriously. They’re probably too busy counting their passive index investments, which is how they’ve ended up with so many shares in MSTR, a regular presence in indices like the Russell 1000.
It gets better—MSTR’s stock has surged nearly 17% in the past month alone. Every time Bitcoin rallies, Vanguard’s funds, which are holding MSTR, become a little more valuable. It’s like they’re getting the benefits of Bitcoin’s rise without having to admit they were wrong. How very, very convenient!
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2025-07-14 22:24