Swiss National Bank Increases Bitcoin Exposure Through MicroStrategy Investment*

 **Swiss National Bank Increases Bitcoin Exposure Through MicroStrategy Investment**  

Switzerland’s central bank, the **Swiss National Bank (SNB)**, has expanded its indirect holdings in **Bitcoin** by acquiring more shares of **MicroStrategy (MSTR)**, according to recent filings.  

### **Key Takeaways:**  

- **SNB’s Strategy:** Rather than buying Bitcoin directly, the SNB has been accumulating shares in **MicroStrategy**, the largest corporate holder of Bitcoin, which currently owns **214,400 BTC** (as of June 2024).  

- **Motivation:** The move suggests that central banks may be warming to Bitcoin as a potential **macro asset** or **hedge against inflation**, even if they avoid purchasing it outright.  

### **Market Implications:**  

- **Institutional Confidence:** A major central bank investing in a Bitcoin-heavy firm like MicroStrategy lends further credibility to cryptocurrency as an asset class.  

- **MicroStrategy’s Appeal:** The company has become a preferred **Bitcoin proxy** for institutions restricted from direct crypto investments.  

- **Price Stability:** Growing institutional interest could contribute to Bitcoin’s long-term price support.  

### **Bigger Picture:**  

- The SNB’s move follows similar steps by asset managers like **BlackRock and Fidelity**, which have increased crypto exposure through ETFs and equities.  

- This trend highlights how **traditional finance is gradually embracing crypto**, even if indirectly.  

### **Final Thoughts:**  

While the SNB has not bought Bitcoin directly, its growing stake in MicroStrategy signals **rising institutional trust** in Bitcoin’s value as a long-term store of wealth. This could encourage other central banks to explore similar strategies in the future.