MicroStrategy will be included in the technology-heavy NASDAQ 100 Index, with this change taking effect before the market opens on December 23.
According to Zhitong Finance APP, MicroStrategy (MSTR.US), the world's largest active investor in crypto assets, will be included in the technology-heavy NASDAQ 100 Index, with this change taking effect before the market opens on December 23. Its stock price had rapidly surged due to active purchases of Bitcoin. This news comes alongside data analytics company Palantir Technologies (PLTR.US) and firearm manufacturer Axon Enterprise (AXON.US) also being included in the NASDAQ 100 Index, while gene sequencing equipment manufacturer Illumina (ILMN.US), AI server manufacturer Super Micro Computer (SMCI.US), and vaccine manufacturer Moderna (MRNA.US) have been removed from the index.
As a significant buyer of Bitcoin, MicroStrategy's stock price has surged more than sixfold this year, with a Market Cap approaching 94 billion USD. Since it began purchasing and holding Bitcoin in 2020, the company has become one of the largest holders of cryptocurrencies, enhancing the attractiveness of its stocks, which tend to perform in line with cryptocurrencies. Analysts believe that MicroStrategy's decision to purchase Bitcoin to protect the value of its reserve assets is a key factor in the increased attractiveness of its stocks.
With the inclusion in the NASDAQ 100 Index, the market expects MicroStrategy's outlook to further improve. Bernstein analysts predict that, in addition to the inflow of new ETF funds, the company will also gain greater visibility and recognition, and is expected to be included in the S&P 500 Index in the coming years.
In recent weeks, Bitcoin prices have risen due to the victory of US presidential candidate Trump, heightening hopes in the cryptocurrency industry for easing regulatory barriers.
Earlier this month, Bitcoin prices surpassed the 0.1 million USD mark for the first time. Bernstein analysts noted that MicroStrategy's management has shown no signs of slowing down its Bitcoin purchases and is willing to continue buying within the range of 0.095 million to 0.1 million USD.
As of now, the company holds approximately 423,650 Bitcoins, with the average purchase price of these Bitcoins being around 25.6 billion USD, while based on the previous closing price of Bitcoin, this investment has risen to about 42.43 billion USD.