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MicroStrategy Enters Elite Nasdaq Club
Michael Saylor’s company, MicroStrategy (MSTR), has been added to the Nasdaq-100 Index, starting Dec. 23, as announced by Nasdaq. This move places MicroStrategy among the top 100 largest companies listed on the exchange by market capitalization.
MicroStrategy joins the index alongside Palantir Technologies (PLTR) and Axon Enterprise (AXON), while Illumina (ILMN), Super Micro Computer (SMCI), and Moderna (MRNA) will be removed.
From Software Firm to Bitcoin Pioneer
MicroStrategy, originally a software company, transformed into a Bitcoin-focused investment vehicle in 2020. Its inclusion in the Nasdaq-100 also adds it to the Invesco QQQ Trust (QQQ), a major exchange-traded fund (ETF) managing $322 billion in assets.
Crypto Industry Reacts
The announcement has sparked excitement in the crypto world. Analyst Will Clemente noted that this move gives every major pension fund, sovereign wealth fund, and retirement account indirect Bitcoin exposure through MSTR.
Jeff Park, head of alpha strategies at Bitwise Invest, called it “the trade of the decade,” while Felix Hartmann of Hartmann Capital said active fund managers benchmarking against the Nasdaq may now hedge with direct Bitcoin or MSTR exposure.
Saylor Advocates for Bitcoin Adoption
This news follows Michael Saylor’s recent pitch to Microsoft’s board, where he urged the tech giant to adopt Bitcoin. Saylor argued that embracing Bitcoin could add nearly $5 trillion to Microsoft’s market cap, calling Bitcoin “the next technology wave.”
