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In summary
- MicroStrategy joined the Nasdaq 100, highlighting growing institutional recognition of Bitcoin and cryptocurrencies.
- The company holds 423,650 BTC, reaffirming its position as the largest corporate holder of Bitcoin globally.
- MicroStrategy shares rose to $411 following the announcement, reflecting optimism around its Bitcoin-based strategy.
MicroStrategy officially joined the Nasdaq 100 on Friday, cementing its place among an elite group of companies. Nasdaq announced the inclusion in a press release detailing the annual changes to the Nasdaq-100 index. MicroStrategy’s MSTR stock rose on news of the listing in after-hours trading by 0.57% and is currently trading at $411.00, after starting the day at $400.07, according to MarketWatch.
For Bitcoin enthusiasts, this milestone is a moment of vindication, showing how far the Cryptocurrency industry has come in gaining institutional recognition.
Created in 1985, the Nasdaq 100 is an index of the top 100 non-financial companies on the Nasdaq Stock Market. These companies include Apple, Meta, Microsoft, Amazon and Nvidia. The Nasdaq 100 serves as a benchmark for information on the performance and investor sentiment towards non-financial companies.
Founded by Michael Saylor in 1989, MicroStrategy is a business intelligence and analytics solutions company; In recent years, the company has become well known for its aggressive Bitcoin strategy.
Under Saylor’s leadership, MicroStrategy began acquiring Bitcoin in 2020 as part of a bold—or foolish, as critics said—$425 million investment. Four years later, MicroStrategy has only doubled down on its confidence in Bitcoin, increasing its holdings by $1.5 billion earlier this month.
MicroStrategy currently holds over 423,650 BTC, valued at approximately $42.8 billion, making it the largest corporate holder of Bitcoin in the world.
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