The correlation between MSTR and largest cryptocurrency has been strikingly strong
MicroStrategy will join the Nasdaq-100 Index on December 23, following a sixfold surge in its stock this year, driven by its aggressive Bitcoin investments. Inclusion is expected to boost the stock as ETFs tied to the index purchase shares.The addition, announced after the market close on Friday, was anticipated by investors ahead of the index’s rebalancing.
The company, now the largest corporate holder of Bitcoin, shifted its strategy in 2020 amid challenges in its software business. Analysts predict this milestone could pave the way for future inclusion in the S&P 500 by 2025.Shiba Inu on Verge of 17% Crash, According to Bollinger Bands The Nasdaq-100 Index, which features 100 of the largest nonfinancial companies in the Nasdaq Composite, will add MicroStrategy on December 23. The inclusion will prompt ETFs like the Invesco QQQ Trust, managing $325 billion in assets, to purchase the stock automatically.This weighting equates to about $2.1b of buying via all the ETFs that track the index which have $451b collectively. We did not include SMAs or CITs or any active strategies so it could be a little more when all is said and done.
MicroStrategy positions Bitcoin as a core reserve asset and inflation hedge, inspiring similar moves by other companies like Marathon Digital and Semler Scientific.Dan is a news editor and writer with 12 years of experience in finance and emerging technologies, with a strong focus on crypto. Covering a broad spectrum of topics, from fintech startups to AI, he provides an in-depth overview of the current state of the crypto market, along with insights into its potential for future disruption.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MicroStrategy Has 90% Chance of Being Added to Nasdaq 100Bettors see high odds of MicroStrategy making it to Nasdaq 100
Read more »
MicroStrategy secures Nasdaq-100 inclusion after bitcoin-fueled stock surgeMicroStrategy secures Nasdaq-100 inclusion after bitcoin-fueled stock surge
Read more »
MicroStrategy on Track to Become Part of Nasdaq-100The coveted addition could result in a major boost for the stock
Read more »
MicroStrategy (MSTR) Could See Huge Flows Into the Stock After Nasdaq-100 ListingMicroStrategy’s (MSTR) potential ranking could weigh around 0.3-0.45% which would result in an approximate of $1 billion in passive inflows into the stock.
Read more »
Bitcoin proxy MicroStrategy to join the Nasdaq 100 and heavily traded 'QQQ' ETFMicroStrategy, the high beta play on the price of bitcoin, will join the Nasdaq 100 index.
Read more »
Kirill Petrenko finds leading the Berlin Philharmonic means 100 opinions and 100 expectationsIn his sixth season as chief conductor, Kirill Petrenko is leading the Berlin Philharmonic on its 25th U.S. tour and second in three years.
Read more »