MicroStrategy officially joined the Nasdaq 100, entering the elite group. The inclusion makes the software and analytics firm one of the 100 largest non-financial stocks traded on Nasdaq based on market capitalization. Just as MicroStrategy, Palantir Technologies Inc. (PLTR) and Axon Enterprise, Inc. (AXON) were also added to the index, according to a Deca. 13 statement by Nasdaq.
Following the announcement, MicroStrategy’s stock (MSTR) experienced a slight increase in after-hours trading, rising 0.57% to $411.00 from its opening price of $400.07. The addition highlights the company’s strong position as both a business intelligence firm and a major Bitcoin holder.
MicroStrategy’s Nasdaq 100 entry highlights Bitcoin-driven success
Nasdaq 100 is an index of the top 100 most significant companies listed in the Nasdaq Stock Market. Some of the well-known giants comprise Apple, Amazon, Meta, Microsoft ,and Nvidia. Nevertheless, MicroStrategy joining the Nasdaq 100 index is an achievement, brought about by the company decision to embrace Bitcoin, something it has ramped up in recent years.
In 2020, MicroStrategy adopted Bitcoin as a key component of its corporate strategy, positioning itself as one of the largest cryptocurrency holders. Recent data reveals that the company owns 423,650 Bitcoins, valued at over $42 billion. This aggressive investment strategy has contributed to a 450% rise in MicroStrategy’s stock price this year, far outpacing Bitcoin’s 110% gain in the same period.
The listing replaces Illumina, Inc. (ILMN), Super Micro Computer, Inc. (SMCI), and Moderna, Inc. (MRNA), which were removed from the index as part of Nasdaq’s annual reshuffle.
Crypto industry reactions on MicroStrategy’s Nasdaq 100 inclusion
The crypto industry has responded positively to MicroStrategy’s inclusion in the Nasdaq 100. Analysts suggest this development could lead to broader Bitcoin exposure for institutional investors. Crypto analyst Will Clemente noted on x that the addition could indirectly drive pension funds, sovereign wealth funds, and retirement accounts to include Bitcoin via MicroStrategy.
Moreover, Jeff Park, Head of Alpha Strategies at Bitwise Invest, remarked that the listing represents the beginning of a significant trend in the investment landscape. He called MicroStrategy’s stock a key option for investors wanting cryptocurrency exposure through traditional financial markets.
Bitcoin integration into mainstream investment portfolios is evident in companies such as MicroStrategy, which focuses on Bitcoin. Their stock is increasing, showing the company’s double excellence in being a leader in the tech and crypto industries.
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