National Bank of Canada has increased its holding in Strategy to 1.2 million shares, more than doubling its position in the company formerly known as MicroStrategy. The stake is valued at about $116 million. Strategy has become a widely used proxy for institutional investors seeking Bitcoin exposure through a Nasdaq-listed stock rather than holding the token directly, after aggressively building its Bitcoin position under Executive Chairman Michael Saylor. Earlier disclosures from late 2025 showed the bank holding an even larger position of about 1.47 million shares, valued at nearly $273 million at the time, illustrating how institutional exposure to the stock can shift sharply across quarterly filings. The move also highlights how Canadian financial institutions have used Strategy shares to adjust Bitcoin-linked exposure while taking on the added risks of corporate leverage, execution and balance-sheet decisions.