MicroStrategy Debuts on Nasdaq-100, Boosting Bitcoin Exposure and ETF Inflows
The latest development, Bitcoin agent MicroStrategy has officially debut Nasdaq 100 Index. Palantir PLTR and Axon Enterprise AXON join MicroStrategy in the Nasdaq 100 index, according to Nasdaq data. They replace Illumina (ILMN), Super Micro (SMCI) and Moderna (MRNA), and the reorganized index will begin trading on December 23.
Nasdaq 100 gains indirect BTC exposure
Notably, MSTR ranks 52nd, accounting for approximately 0.42% of the total market capitalization of all companies in the index. Nasdaq notes that ETFs tracking the Nasdaq 100 Index will automatically include MicroStrategy among their holdings. For example, Invesco QQQ ETF QQQ, a popular technology fund with $320 billion in assets, will now acquire shares of MicroStrategy regardless of investor preferences.
MicroStrategy’s inclusion in the Nasdaq 100 index not only reflects growing acceptance of cryptocurrencies, but also brings new volatility to the index. Nasdaq noted that his shift could have broad implications for the public markets and the broader ETF industry.
Bloomberg ETF analyst James Seyffart previously predicted that inclusion in the index could lead to an influx of about $2.1 billion in buying activity in ETFs tracking the Nasdaq 100. Notably, the company’s shares have soared approximately 476% this year, with its shares rising in line with Bitcoin price action. MSTR shares hit an all-time high of around $473 on November 20, when Bitcoin was trading above $92,000.
MSTR buy more BTC
In addition, MicroStrategy has recently increased its holdings for the seventh consecutive week. company purchase It held 5,262 BTC for the week ending December 22, totaling $561 million, bringing its total holdings to 444,262 BTC. The latest acquisition was funded through a share sale under the company’s Market to Market (ATM) scheme. MicroStrategy has $7.08 billion remaining on its ATM plan. The news was announced immediately following MSTR’s inclusion in the Nasdaq 100 Index.
MicroStrategy, which began as an enterprise software company, transformed in 2020 under the leadership of its founder, Michael Saylor, who firmly embraced Bitcoin. The company continues to acquire more Bitcoins, betting its entire business on the future of cryptocurrencies. Bitcoin is up about 120% this year due to increasing adoption. Additionally, President-elect Trump’s plan to establish a U.S. strategic reserve of Bitcoin has further fueled the enthusiasm of cryptocurrency bulls.
