The post Microstrategy Joins Nasdaq 100, Boosting Bitcoin appeared on BitcoinEthereumNews.com.

Microstrategy has officially been added to the Nasdaq 100, becoming the largest corporate buyer of Bitcoin. This prestigious index comprises the top 100 non-financial firms, which includes giants like Amazon and Apple. As of November 29, 2024, the firm ranks 40th on the list with an impressive market valuation of approximately $92 billion. What is Microstrategy’s Bitcoin Approach? Under the leadership of Michael Saylor, Microstrategy has adopted a steadfast commitment to acquiring Bitcoin, irrespective of its market price fluctuations. Currently, the company possesses around 234,650 BTC, equating to nearly $43 billion. This significant investment helps to bolster market confidence and plays a vital role in driving up Bitcoin’s price. Will Bitcoin Prices Continue to Rise? As of the latest reports, Bitcoin trades at $101.5k, slightly down from its peak price of $103.9k. However, Microstrategy’s entry into the Nasdaq 100 may contribute positively to Bitcoin’s valuation. Following this announcement, Bitcoin witnessed a spike to $102.5k, representing its most substantial rebound since reaching its previous all-time high. Microstrategy has maintained a consistent buying strategy for four years. The firm’s portfolio has surged to $43.18 billion. Analysts forecast Bitcoin could potentially hit $150k by the end of 2025. Michael Saylor’s firm has successfully navigated criticism for its Bitcoin accumulation, now standing as a significant player in the cryptocurrency space. Its recent Nasdaq 100 inclusion enhances confidence in Bitcoin’s trajectory, spurring optimism about its potential for reaching new heights in the coming years. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. Source: https://en.bitcoinhaber.net/microstrategy-joins-nasdaq-100-boosting-bitcoin

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Filed under: News - @ December 15, 2024 10:23 am