MicroStrategy, a company specializing in bitcoin, will be part of one of the world’s largest exchange-traded funds (ETFs) after becoming the first bitcoin-focused company to join the Nasdaq-100 Index. The index tracks the 100 largest non-financial companies on the Nasdaq exchange and includes major firms such as Apple, Nvidia, Microsoft, Amazon, Meta, Tesla, and Costco.
Following the announcement, bitcoin’s price increased slightly, reaching over $102,000. MicroStrategy’s market cap on November 29th was approximately $92 billion, making it the 40th largest company in the Nasdaq 100 with a likely weighting of 0.47%. This addition will significantly increase the Nasdaq 100’s exposure to bitcoin, as MicroStrategy owns around $42 billion worth of the cryptocurrency.
ETFs tracking the Nasdaq 100 have over $550 billion in assets under management.
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