American business intelligence and software company MicroStrategy Inc is in the process of being included in the Nasdaq 100 Index. According to Guru Focus’s update, tech companies like Moderna are at risk of leaving the index, creating opportunity for MicroStrategy.
MicroStrategy’s Bitcoin Investments Increase
According to the update, the official list of companies that will leave the Nasdaq 100 Index and join it will be announced on December 13. However, Bloomberg Intelligence expressed confidence in the chances of MicroStrategy and other new companies being included in this index.
Bloomberg senior ETF analyst Eric Balchunas confirmed the possibility of MicroStrategy’s inclusion in this index. He stated that, in addition to the company managed by Michael Saylor, Palantir Technologies may also participate in the index with a high chance.
“$MSTR is likely to be included in $QQQ on 12/23. Moderna’s departure is expected. Estimated weight 0.47%.” – Eric Balchunas
To be included in the Nasdaq 100 Index, companies must have been trading on the Nasdaq exchange for at least 2 years and have a daily trading volume of 200,000 shares. Additionally, the firm must submit regular or timely financial reports.
MicroStrategy was founded in November 1989 to provide advanced software and cloud services. The company launched Bitcoin in August 2020 $97,364.3 It did not gain widespread attention until it adopted a priority treasury reserve strategy. To date, the company has continuously accumulated Bitcoin, reaching a total of 423,650 units of BTC.
Role of Michael Saylor
MicroStrategy’s co-founder and president, Michael Saylor, has played a key role in the company’s growth. Beyond remaining committed to the company’s Bitcoin strategy, Saylor is an advocate for the digital currency.
Earlier, he gave a 3-minute presentation to the Microsoft board encouraging them to adopt Bitcoin as a reserve asset. However, the Microsoft Board of Directors rejected the Bitcoin proposal in order to maintain the status quo.
While MicroStrategy’s Bitcoin strategy has led companies like Tesla, Metaplanet, and Semler Scientific to invest in BTC, Microsoft’s rejection has been an unexpected test of popularity.
MicroStrategy’s inclusion in the Nasdaq 100 Index could be an important step in terms of the company’s financial standing and the continuation of its Bitcoin strategy. Investors are closely monitoring the impact of this development on the company’s future.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
