Vanguard Group, with $1 trillion in assets under management, becomes the largest shareholder of Strategy
JH Kim
Summary
- Global asset management giant Vanguard Group has become the largest shareholder of Strategy, which is well known for its long-term Bitcoin (BTC) holding strategy.
- As of July 13, Strategy holds 601,550 BTC and disclosed an average acquisition price of $71,268.
- Some analysts say this action by Vanguard suggests a higher likelihood that more traditional financial institutions will enter the virtual asset market.
On the 14th (local time), The Block, a cryptocurrency-focused media outlet, reported—citing Bloomberg—that Vanguard Group, a global asset management company managing approximately $1 trillion in assets, has become the largest shareholder of Strategy, which is noted for its long-term Bitcoin (BTC) holding strategy.
As of July 13, Strategy holds a total of 601,550 BTC, with an average acquisition price of $71,268.
Some market observers analyzed this as "a representative case of the gap between the official positions of institutional investors and their actual investment activities" and commented, "This move by Vanguard suggests that more traditional financial institutions may fully enter the virtual asset market in the future."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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