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coinpedia 2024-12-14 05:44:08

Bitcoin-Powered MicroStrategy To Join Nasdaq 100: What It Means for Bitcoin

The post Bitcoin-Powered MicroStrategy To Join Nasdaq 100: What It Means for Bitcoin appeared first on Coinpedia Fintech News MicroStrategy, the well-known business intelligence firm linked with massive Bitcoin investments, is making headlines once again. The company, led by Michael Saylor, is set to join the prestigious Nasdaq-100 index, which includes big names like Apple, Microsoft, and Tesla. This has created excitement among investors and could push Bitcoin to new ATH soon. Why MicroStrategy’s Inclusion Matters MicroStrategy’s entry into the Nasdaq-100 is a big deal. The index tracks the 100 largest non-financial companies on the Nasdaq exchange, and MicroStrategy’s rapid growth this year secured its place. With a market value of $92 billion as of November, the company is expected to hold a 0.47% weighting in the index. This move means funds tracking the Nasdaq-100, such as the $300 billion Invesco QQQ ETF, will indirectly hold Bitcoin through MicroStrategy’s investments. The company currently owns around 423,650 Bitcoin , worth over $42 billion, making it one of the largest Bitcoin holders in the world. Bitcoin’s Rising Popularity Bitcoin recently crossed the $100,000 mark for the first time, fueled by hopes of regulatory changes under President-elect Donald Trump. MicroStrategy’s continued Bitcoin purchases , even at high prices, show the company’s confidence in the cryptocurrency’s long-term potential. Analysts say MicroStrategy remains comfortable buying Bitcoin in the $95,000 to $100,000 range. Speculation On MicroStrategy’s Sustainability While this is a significant milestone, some experts believe MicroStrategy’s stay in the Nasdaq-100 could be temporary. Since most of its value comes from Bitcoin rather than its core business, it might eventually be classified as a financial company. Founder Michael Saylor has also hinted at transforming MicroStrategy into a “Bitcoin bank,” which could change its status further. For now, though, this inclusion is seen as a major milestone, further intertwining the world of cryptocurrencies with mainstream financial markets. As ETFs like SPY and QQQ align themselves with this shift, millions of investors may gain indirect exposure to Bitcoin, adding momentum to its broader adoption.

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