Usman Salis
French asset manager Amundi has dramatically expanded its position in Strategy Inc. (MSTR), ramping up its stake by 373% to nearly 4.8 million shares as of the quarter ending December 31, 2025. The move, disclosed in the latest regulatory filings, marks one of the sharpest institutional allocation shifts into a Bitcoin-linked equity seen in recent months. Even as MSTR traded below its late-2024 highs amid broader crypto market weakness, Amundi - one of Europe's largest asset managers - clearly wasn't deterred.
Amundi's 373% Stake Increase Puts MSTR Among Key Institutional Positions
Strategy Inc., formerly known as MicroStrategy, has long been treated as a proxy for corporate Bitcoin exposure, with its share price moving in close lockstep with BTC sentiment. That narrative hasn't changed, and for Amundi it seems to be the whole point. Rather than gaining direct crypto exposure through funds or ETFs, the firm chose to scale into a regulated equity with a well-documented Bitcoin treasury strategy.
Traditional asset managers are no longer treating Bitcoin-linked strategies as experimental - they're becoming core portfolio allocations.
This isn't the first time MSTR attracted this kind of attention - the stock's track record includes a stretch where MicroStrategy Stock Crushes Nvidia's Returns With Bitcoin Strategy, driven entirely by its aggressive BTC accumulation.
Institutional Bitcoin Plays Through Equity: A Growing Trend in 2025
What makes this filing notable is what it says about the broader shift happening inside traditional finance. Institutional investors are increasingly comfortable gaining digital asset exposure through public equities rather than holding crypto directly. Strategy's dual role - software business on one side, massive Bitcoin treasury on the other - gives funds like Amundi a familiar, regulated wrapper for what is essentially a macro bet on BTC.
The timing also lines up with renewed momentum across the crypto space. Sol Trades in $76-$90 Range as Breakout Toward $100 Draws Closer, and broader digital asset markets have been showing signs of stabilization that may be encouraging larger allocations into correlated equities like MSTR.
A 373% increase in a single quarter is hard to dismiss as routine rebalancing. It signals conviction - and suggests that for major European asset managers, Bitcoin-adjacent equities have crossed from speculative sideline to legitimate portfolio category.
Usman Salis
