Recent disclosures show two large U.S. banks increasing exposure to Strategy Inc., the company formerly known as MicroStrategy and widely treated by equity investors as a Bitcoin proxy. JPMorgan increased its position by about 11% to 624,387 shares through an additional purchase worth roughly $6 million, reversing share sales recorded in the third quarter of 2025. Separately, Wells Fargo more than doubled its stake in the first quarter of 2026 to about 726,000 shares from roughly 323,000 shares, according to a 13F filing with the U.S. Securities and Exchange Commission, implying a position worth about $185 million at current valuations. The moves add to evidence that some institutions are using listed equities rather than direct token holdings to gain Bitcoin-linked exposure.