Major positive news! Bitcoin is expected to hit new highs, and MicroStrategy is about to join the Nasdaq 100 index.
Hello everyone, today I want to share an exciting piece of news. This is undoubtedly a huge positive for Bitcoin. Nasdaq has announced a significant update: MicroStrategy will officially become part of the Nasdaq 100 index on December 23, with its stock symbol MSTR accounting for approximately 0.47% of the index, making it the 48th largest component. This means that all exchange-traded funds (ETFs) tracking the Nasdaq 100 index will need to purchase approximately $2.1 billion worth of MSTR stock. The Nasdaq 100 index includes the 100 largest non-financial companies listed on the Nasdaq exchange, such as Apple, Nvidia, Microsoft, etc.
This change could be the second biggest event in 2024, right after the listing of the Bitcoin spot ETF. Through the purchase by index funds, MicroStrategy will receive approximately $2.1 billion in capital inflow, not including independent managed accounts, pooled investment funds, or any active investment strategies; the actual funds could be even higher.
MicroStrategy has purchased over 420,000 Bitcoins through the issuance of corporate bonds. With its addition to the Nasdaq 100 index, its stock price is expected to continue to rise. This will benefit the company in issuing bonds in the future, potentially continuing to drive the price of Bitcoin up.
For friends who are not familiar with these terms, let me briefly explain: MicroStrategy will become part of the Nasdaq 100 index on December 23, which means that all funds investing in this index will partially flow into MicroStrategy's stock, bringing it continuous capital inflow.
Michael Saylor, the CEO of MicroStrategy, is a staunch supporter of Bitcoin. Under his leadership, the company has become one of the publicly traded companies with the largest holdings of Bitcoin globally. With the increase in company funds, it is expected that Michael Saylor will continue to accumulate Bitcoin, bringing sustained buying pressure to the market and driving the price of Bitcoin up.
As of December 8, 2024, MicroStrategy acquired 423,650 Bitcoins at an average price of approximately $60,324. On December 9, the company bought an additional 21,550 Bitcoins with $2.1 billion in funds at an average price of $98,783.
Michael Saylor is someone who is determined to accumulate more Bitcoin even through convertible bonds. With the inclusion of MSTR stock in the index, it is expected that he will continue to buy more Bitcoin, bringing sustained buying pressure to the market. Thank you all for your attention and support. If you find this article valuable, don't forget to like, follow, and share!