
MicroStrategy Will Be Added to Nasdaq 100
On December 23, MicroStrategy will officially join the Nasdaq 100 index. This position in the index alongside other notable companies like Palantir and Axon Enterprise will make MicroStrategy a target for large exchange-traded funds, such as QQQ ETF.
ETF analyst James Seyffart of Bloomberg predicts that these funds will purchase at least $2.1 billion worth of MicroStrategy shares.
Despite the company’s current market capitalization of $98 billion, which far exceeds the value of its approximately 423,650 Bitcoin holdings worth approximately $43 billion, MicroStrategy’s CEO Michael Saylor continues to use a “flywheel effect” strategy to acquire even more Bitcoin.
This approach has resulted in the company adding 197,150 Bitcoin to their position since September 12, driving up their average purchase.