Vanguard Group has increased its investment in MicroStrategy to $3.2 billion during the third quarter of 2025. The firm now holds 18,539,756 shares, representing between 6.45% and 7.13% of the company. This strategic move underscores Vanguard's confidence in Bitcoin-backed assets, as MicroStrategy holds a significant position of 671,268 BTC. With this investment, Vanguard becomes the second-largest shareholder in MicroStrategy, following Capital Research. The decision aligns with Vanguard's broader strategy of portfolio diversification, leveraging the potential risk-to-reward benefits of Bitcoin-related investments.