MicroStrategy officially joined the Nasdaq 100 on Friday. This is a significant milestone for the company, placing it among a select group of top firms. The Nasdaq announced this change in a press release detailing the annual updates to the Nasdaq-100 index.
After the news broke, MicroStrategy's stock (MSTR) rose by 0.57% in after-hours trading. It’s currently priced at $411.00, starting the day at $400.07, according to MarketWatch.
For Bitcoin fans, this is a moment of validation. It shows just how far the cryptocurrency industry has come in gaining respect and recognition from institutions.
The Nasdaq 100 was created in 1985. It includes the top 100 non-financial companies listed on the Nasdaq Stock Market. This group features big names like Apple, Meta, Microsoft, Amazon, and Nvidia. The index serves as a benchmark for understanding how these companies are performing and what investors think about them.
Founded by Michael Saylor in 1989, MicroStrategy specializes in business intelligence and analytics solutions. Recently, the company has gained attention for its bold Bitcoin investment strategy.
Under Saylor's leadership, MicroStrategy began acquiring Bitcoin in 2020. This was part of a controversial $425 million investment. Fast forward to now, and the company has doubled down on its belief in Bitcoin, increasing its holdings by an additional $1.5 billion just this month.
As it stands, MicroStrategy holds over 423,650 BTC. That’s worth around $42.8 billion, making it the largest corporate holder of Bitcoin in the world.