Swiss National Bank Adds $72M in Strategy Stock (MSTR) as Institutional Bitcoin Exposure Grows

TLDR

• Swiss National Bank holds 736,300 Strategy shares.
• The MSTR stake is worth about $70 million at recent prices.
• The holding gives the SNB indirect exposure to Bitcoin.
• TD Cowen maintains a Buy rating on Strategy stock.
• TD Cowen’s MSTR price target stands at $400.

The Swiss National Bank holds 736,300 shares of Strategy, giving Switzerland’s central bank indirect exposure to Bitcoin through one of the largest corporate Bitcoin holders. The position comes even as SNB leadership maintains that cryptocurrencies do not meet its standards for official currency reserves.

Strategy shares were trading near $94.83 on Thursday, valuing the SNB position at about $69.8 million at the latest market price. The Q2 filing covered holdings as of June 30 and was submitted on August 11. The SNB disclosed a US equity portfolio worth about $191.4 billion across 2,301 positions.

Swiss National Bank Holds 736,300 MSTR Shares

The SNB held 736,300 Strategy shares at the end of the second quarter, down from 766,100 shares in the previous quarter. That means the central bank reduced its position by 29,800 shares, or about 3.9%, during Q2 rather than adding to the holding.

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