Wall Street piled $1.2 billion into MSTR in Q2 before Strategy turned its Bitcoin flywheel toward rescuing STRC

Wall Street institutions increased their exposure to Strategy's MSTR in the second quarter, just before Michael Saylor’s Bitcoin accumulation machine began redirecting capital toward STRC.On Aug. 18, Strategy said 12 of its 15 largest institutional shareholders increased their MSTR positions through June 30. The company said those additions lifted combined holdings by $1.2 billion.However, its own chart shows the 12 buyers added about $1.3 billion to their positions, while three firms reduced positions by roughly $609 million. This leaves a net increase of about $695 million across the top 15.Strategy's MSTR Institutional Holdings (Source: Strategy)Notable additions came from Goldman Sachs & Co., whose reported stake rose by about $407 million; Capital International Investors added $346 million, while two BlackRock-related firms increased their holdings by more than $170 million combined.Meanwhile, not all of the increase necessarily reflected an active bet on Strategy or Bitcoin. Vanguard, BlackRock, State Street and other major holders manage passive and index-linked products whose positions can move with fund flows and benchmark weights.Interestingly, these firms' accumulati...