The post MicroStrategy joins Nasdaq-100 Index following Bitcoin surge appeared on BitcoinEthereumNews.com.

MicroStrategy, the largest corporate holder of Bitcoin, will officially join the Nasdaq-100 index effective Dec. 23. The company’s inclusion follows an eventful year that saw its stock value increase more than sixfold. The Nasdaq-100 index is up 29.4% in 2024. What does it mean? Joining the Nasdaq-100 index ranks MicroStrategy, the software company turned Bitcoin (BTC) treasury, among some of the biggest corporations, including Apple Inc., with a market cap exceeding $3 trillion; Microsoft Corporation, valued at over $2 trillion; NVIDIA Corporation, boasting a market cap surpassing $1 trillion; Amazon.com Inc., with its market cap of around $1.5 trillion; and Alphabet Inc., which has a market cap nearing $1.8 trillion. Other newcomers to the index this year include Palantir Technologies and Axon Enterprise. This inclusion typically leads to increased stock purchases as exchange-traded funds, or ETFs, tracking the index adjust their holdings to reflect the changes. To be included in the Nasdaq-100, a company must meet specific criteria and maintain a position of prominence in the stock market. For MicroStrategy, it’s among the 100 largest non-financial companies listed on the Nasdaq stock exchange based on market capitalization. Inclusion also signifies that the company is among the most valuable and must maintain its stock performance to stay included. Poor performance or a drop in market cap can lead to exclusion, as was the case this year with Illumina, Super Micro Computer, and Moderna. MicroStrategy’s transformation The firm began acquiring Bitcoin in 2020 as a treasury reserve asset amid declining software business revenue. The strategy has proven remarkably successful, with the company’s market capitalization now approaching $97.94 billion. The firm recently expanded its Bitcoin holdings further, with Executive Chairman Michael Saylor announcing the acquisition of 21,550 Bitcoin for approximately $2.1 billion between December 2 and December 8, bringing their total holdings to…

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Filed under: News - @ December 14, 2024 10:12 pm