MicroStrategy Inventory Jumps as Bitcoin Proxy Joins Nasdaq-100 Index

Actions of MicroStrategy have been up Monday after the Nasdaq announced that the Bitcoin proxy would join the tech-heavy Nasdaq-100 index..

The inventory was final down lower than 1%, after leaping 7% earlier.

The Nasdaq rebalances its Nasdaq-100 index annually. Firms chosen for inclusion are based totally on market capitalization rankings as of the final buying and selling day of November. The shares should additionally meet a liquidity want and have a sure variety of floating shares.

The inclusion within the index, which takes impact on December 23, follows MicroStrategy’s huge rise this yr. In 2024, the inventory is up 547%, effectively outpacing the S&P 500 A rise of 26.9%, as the value of bitcoin reaches unprecedented heights. Bitcoin final traded round $105,900.66, up 2.6% on the day.

This addition additionally signifies that MicroStrategy might be included within the well-liked Invesco QQQ Trust ETFwhich follows the Nasdaq-100. This may probably result in passive inflows for MicroStrategy inventory, which might give it additional momentum.

Michael Saylor, the corporate’s founder and chairman, additionally introduced Monday morning on social media web site He now holds 439,000 bitcoins.

MicroStrategy has been increase its Bitcoin reserves for years, making it a proxy for the digital foreign money.

“MSTR’s Bitcoin shopping for program is unprecedented on the Road and makes it the biggest Bitcoin-owning firm (2% of provide equating to a market worth of $44 billion),” l wrote on Monday. Bernstein analyst Gautam Chhugani. “Inclusion within the Nasdaq100 additional enhances MSTR’s market liquidity, additional increasing its capital buffer and Bitcoin buy program.”

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