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CoinGape 2024-12-15 00:31:54

How Will Microstrategy Entering Nasdaq 100 Affect Bitcoin?

Microstrategy is the biggest corporate Bitcoin buyer, with 423,650 bitcoins per last revelation, and is now on the Nasdaq 100 Index. The popular index lists the top 100 largest non-financial companies, including global giants like Amazon, Apple, Nvidia, Meta, and more. This happened after the November 29, 2024, market snapshot found Michael Saylor’s company with a market cap of around $92B, making it the 40th biggest company on the Nasdaq 100. Can Bitcoin Hit a New ATH with Microstrategy’s Achievement? Michael Saylor is an active Bitcoin supporter and has sworn to buy Bitcoin despite the price. More importantly, he believes in this token’s potential, firstly about hitting the $100k mark and later reaching millions over the next few years. With such belief, Microstrategy has 234,650 BTC , worth $43 billion. With that, they have built their strong portfolio but are also building investor confidence, eventually favoring the token’s price growth. At the time of reporting, Bitcoin is at $101.5k after moving 2% from the ATH of $103.9k. Although the difference is minor, the token is struggling to accomplish the same target again for days. However, the eyes are now on Michael Saylor’s inclusion in the Nasdaq 100 to affect the Bitcoin price positively. Interestingly, the BTC price has had a minor recovery on the charts past this news, reaching $102.5k earlier in the day. Interestingly, this was the biggest recovery since earlier ATH. Additionally, the buying pressure is strongly persistent on the token. With this buying pressure, high adoption, talks of Bitcoin reserve in multiple parts of the world, Donald Trump’s inauguration, and many other factors, including this firm’s new achievement, the Bitcoin is to end the year on a positive note. More importantly, the Bitcoin price might hit $108.9K , before the year ends and higher in 2025. CZ Summarised Michael Saylor Firm’s Strategy in Four Words While sharing the news of the Nasdaq 100, including the business intelligence company, a popular strategist, Jeff Park, shared a one-page executive summary of the firm. The X post conveyed a summary titled “Theory of MicroStrategy,” but CZ summarised it into just words, joking about the Bitcoin-obsessed company. CZ commented, ‘Buy bitcoins and hold’ referencing Microstrategy’s strategies and kidding that they are all about buying this token. More importantly, he said his summary is shorter than the intro line. My summary of MicroStrategy’s strategy (shorter than the intro line): Buy bitcoins and hold. https://t.co/9i5nUAlm7m — CZ BNB (@cz_binance) December 14, 2024 When Michael Saylor’s firm went on this Bitcoin buying mission, it received a lot of laughs from the people, but the same is gaining appreciation with Bitcoin price hitting $100k, bringing their BTC portfolio to $43.18 billion. Bottom Line Michael Saylor’s company began buying Bitcoin around four years ago, and in this time, it has built a wealth of $43.18 billion with one of the most promising crypto to buy . Its exponential growth has helped the demand growth persistently, leading to worldwide adoptions. With that, the Bitcoin price recently hit an ATH at $103.9k, and analysts believe the price to hit even $150k by 2025 end, in which Microstrategy might play a bigger role, especially with its inclusion in the Nasdaq 100. This milestone is likely to bring positive sentiments to the industry and the token. Additionally, there are many other factors which would contribute to this journey. The post How Will Microstrategy Entering Nasdaq 100 Affect Bitcoin? appeared first on CoinGape .