MicroStrategy (MSTR) Surges as It Joins Nasdaq 100 Index

Dec 16, 2024

MicroStrategy (MSTR, Financial) saw its stock rise nearly 6% as it is set to join the Nasdaq 100 Index, effective December 23. This inclusion could prompt funds tracking the index to buy more shares, potentially boosting the stock further. Known for its significant Bitcoin investments, MicroStrategy's stock has soared nearly 550% this year, with a market value exceeding $100 billion, more than double its Bitcoin reserves.

Since it began acquiring Bitcoin in 2020, MicroStrategy has become a major cryptocurrency holder, with its stock closely mirroring crypto trends. Analysts attribute its stock appeal to its strategy of using Bitcoin to safeguard reserve assets. The inclusion in Nasdaq 100 is expected to enhance its visibility and recognition, possibly leading to future inclusion in the S&P 500 Index.

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