According to Reuters
https://www.reuters.com/technology/microstrategy-secures-nasdaq-100-inclusion-after-bitcoin-fueled-stock-surge-2024-12-14/?utm_source=chatgpt.com
MicroStrategy (MSTR) will officially be included in the Nasdaq-100 index on December 23, 2024. The decision comes after the company's stock surged due to its Bitcoin investment.
As the world's largest corporate Bitcoin holder, MicroStrategy has continued to purchase Bitcoin since 2020. As of December 8, 2024, the company holds approximately 423,650 Bitcoins, with an average purchase cost of approximately US$25.6 billion. With the recent breakout of $100,000 in Bitcoin prices, the value of MicroStrategy's Bitcoin holdings has increased to approximately US$42.43 billion.
Driven by the surge in Bitcoin prices, MicroStrategy's stock price rose more than sixfold in 2024, with a market capitalization approaching $94 billion. Its inclusion in the Nasdaq 100 index is expected to further enhance its stock price, as funds tracking this index will need to purchase the company's shares.
Analysts believe that MicroStrategy's strategy of holding Bitcoin as a primary reserve asset has increased its market appeal. Bernstein analysts anticipate that following its inclusion in the Nasdaq 100 index, MicroStrategy may be included in the S&P 500 index by 2025.
The recent rise in Bitcoin prices is partly attributed to the victory of U.S. presidential candidate Donald Trump, with the market expecting his administration to relax regulations on cryptocurrency. Against this backdrop, MicroStrategy's management continues to buy Bitcoin in the range of approximately $95,000 to $100,000, demonstrating strong confidence in the asset.
Overall, MicroStrategy's inclusion in the Nasdaq 100 index marks an enhancement of its status in the capital markets and reflects the growing influence of cryptocurrency in mainstream financial markets. As Bitcoin prices continue to rise, the company's future development is under close scrutiny.
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