Twelve of Strategy’s 15 largest institutional investors increased their stakes in the second quarter, adding a combined $1.2 billion to their positions, based on quarterly 13F filings with the U.S. Securities and Exchange Commission. The increase points to continued institutional support for the company, formerly MicroStrategy, whose stock is widely viewed as a proxy for bitcoin exposure because of its large corporate bitcoin holdings. The buying came during a quarter when bitcoin traded roughly between $60,000 and $70,000 and recovered after an April pullback. As of mid-2024, Strategy held more than 226,000 bitcoin acquired for about $8.3 billion, and its share price has become closely tied to the token’s performance. The filings reflect positions as of June 30 and were disclosed in August, meaning they offer a delayed snapshot rather than a real-time signal of current ownership.