MicroStrategy Poised to Join Nasdaq 100 Amid Bitcoin Surge
Two respected ETF analysts, Eric Balchunas and James Seyffart, say MicroStrategy could soon be on the Nasdaq 100 index. MicroStrategy remains classified as a technology stock, circumventing restrictions that prevent financial companies from qualifying.
If this prediction comes true, it will be available on the market this Friday, December 23.
MicroStrategy joins Nasdaq 100?
Balchunas first announced the prediction via a social media post yesterday, claiming that MicroStrategy will replace COVID-19 vaccine maker Moderna.
MicroStrategy has become one of the most-watched companies of late as its stock price has soared, fueled by its continuous purchases of Bitcoin. Top 100 U.S. Public Companies. However, it must be approved by Nasdaq for inclusion on the list.
As a public company, Nasdaq has had limited entry into the crypto industry in recent years. last year, The U.S. Securities and Exchange Commission (SEC) halts plans to launch cryptocurrency custody businessand the exchange has not publicly discussed restarting them.
In August, it did boost BlackRock’s efforts Options Trading on Ethereum ETF. Beyond that, however, Nasdaq has been silent on the cryptocurrency space.
Meanwhile, James Seifert agree Publish Balciunas’s views through another article. He noted that Nasdaq does not allow financial companies onto its list, and that MicroStrategy may technically qualify.
The fate of the company is Inseparable from Bitcoin’s performancetherefore, it can be said to be a financial company. However, it is currently classified as a technology stock and won’t be reevaluated until March.
“Here are the dates for the ICB (Industry Classification Baseline) reclassification. So unless they have already started reclassifying MicroStrategy as a financial stock… we think it should be included. That said, it is not included in the main I think Risk,” Seyffart claim.
In fact, MicroStrategy is One of the biggest Bitcoin whales in the worldbut the company started out as a technology company. despite it Often large sums of money are invested in BitcoinMicroStrategy has been a major contributor to its 500% stock market growth this year, but it remains a technology stock considered by Nasdaq.
Ultimately, this is just a prediction, albeit one coming from two experienced ETF analysts. Regardless, there are important deadlines to consider. If MicroStrategy enters the Nasdaq 100, the announcement would come by the end of the week.
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