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News - Will MicroStrategy become part of the Nasdaq 100 thanks to its Bitcoin strategy?
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11-12-20242 min read
Will MicroStrategy become part of the Nasdaq 100 thanks to its Bitcoin strategy?
Will MicroStrategy enter the world's leading tech index? The decision could come as early as Friday, potentially bringing billions in additional capital into the stock.
According to Bloomberg analyst James Seyffart, MicroStrategy could be added to the Nasdaq-100 index as late as December. "MicroStrategy is likely to be included in the Nasdaq-100 index on December 23. We expect net stock purchases worth at least $2.1 billion by ETFs to follow after that, representing about 20 percent of daily trading volume," Seyffart writes on Bloomberg.
JUST IN: MicroStrategy $MSTR will likely enter the Nasdaq 100 $QQQ this month — Bloomberg pic.twitter.com/wpvtBAQDGu
— Bitcoin Magazine (@BitcoinMagazine) December 10, 2024
The decision could come as early as this Friday, Dec. 13. The news is already having a positive effect on the share price. MSTR shares were up 3 percent after trading hours. If the stock is indeed included in the Nasdaq-100, it will attract additional capital as a number of ETFs follow this index.
Bloomberg analyst Seyffart additionally expects MicroStrategy to possibly be included in the S&P 500 by 2025."Inclusion in the S&500 will be more difficult because of the lack of earnings. But a change in Bitcoin valuation rules could ensure MicroStrategy's inclusion in 2025," says Seyffart.
$MSTR is likely to be added to $QQQ on 12/23 (w/ announcement coming 12/13). Moderna likely to get boot (symbolic). Below is best guess of adds/drops via @JSeyff. Likely a 0.47% weight (40th biggest holding). There's $550b of ETFs tracking the index. S&P 500 add next yr prob. pic.twitter.com/rmTavtvWQL
— Eric Balchunas (@EricBalchunas) December 10, 2024
MicroStrategy's unprecedented success
MicroStrategy's rise is impressive. Over the past year, the stock has risen 497 percent, far surpassing Bitcoin (130 percent YTD).
In fact, at the end of November, MSTR was the most traded stock in the United States.
Founder Michael Saylor is known as an outspoken Bitcoin bully. The company has been aggressively buying Bitcoin for some time, often by taking on new debt.
Recently, Saylor introduced the "21/21 strategy," through which he plans to invest a total of $42 billion in Bitcoin. This will be funded half with debt and half with equity.
Currently, MicroStrategy owns 423,650 BTC, worth $41 billion.
