MicroStrategy, a company that buys a lot of Bitcoin, is joining the Nasdaq-100 Index, making it easier for people to invest in its stock. This change will happen before the market opens on December 23. When a company joins this important index, many investment funds buy its shares, which can raise the stock price.
This year, MicroStrategy’s stock has skyrocketed more than six times, reaching a market value close to $94 billion! The company started buying Bitcoin in 2020 because its software sales were not doing as well. Now, MicroStrategy holds the most Bitcoin of any company, owning about 423,650 Bitcoins worth around $42.43 billion.
Analysts believe that MicroStrategy’s Bitcoin buying strategy makes its stock more attractive, especially as Bitcoin’s price has recently risen. They predict that the company could be included in the S&P 500 Index by 2025. Plus, with the Nasdaq-100 inclusion, it is expected to gain more attention, not just from Bitcoin investments but also from other funds.
Bitcoin has been doing well lately, especially with the news about U.S. President-elect Donald Trump, which many think will make regulations easier for cryptocurrencies. The price of Bitcoin even crossed $100,000 for the first time earlier this month! MicroStrategy’s team is ready to keep buying Bitcoin, buying more between the $95K and $100K range.
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