Michael Saylor predicts MARA Holdings will join Nasdaq 100 next
Michael Saylor, inventor of MicroStrategy and a Bitcoin supporter, predicts that crypto miner MARA Holdings will join the Nasdaq 100 index next.
MicroStrategy Joins Nasdaq 100
The reply followed Thiel's letter honoring MicroStrategy's Nasdaq 100 membership, effective before trade on Dec. 23.
Nasdaq 100 membership is a milestone since it places you among the top 100 non-financial Nasdaq businesses by market value.
Financecharts data showed MicroStrategy's market worth at $94.77 billion on Dec. 13 and MARA's at $7.32 billion.
Fred Thiel noted Saylor's comment and MARA's desire to achieve this. “We’re working hard to get there,” he said.
Recent MARA financial maneuvers demonstrate this resolve.
According to a Dec. 2 SEC filing, the business invested over $600 million in Bitcoin in the preceding two months.
MARA's stock has also risen. It ended at $22.73 on Dec. 13, up 16.74% in six months.
Google Finance data showed MicroStrategy closing at $408.67, up 173.27%.
MicroStrategy joins two additional Nasdaq 100 businesses, while Illumina, Super Micro Computer, and Moderna are excluded.
The index reshuffle reflects its dynamic nature and Bitcoin-focused enterprises' rising importance.
MARA wants more than stock market success. On Nov. 26, the business urged for more U.S. action to “secure dominant positions in Bitcoin and Bitcoin mining,” citing national security concerns.
MARA Buys Nearly 12K Bitcoin
With $1.1 billion from its zero-coupon convertible notes, the mining company bought Bitcoin for $96,000 each.
MARA's total Bitcoin holdings were 40,435 BTC on Dec. 9, worth $3.9 billion at the current pricing.
MARA said its Bitcoin holdings yielded 12.3% quarter-to-date and 47.6% year-to-date.
An official filing from Dec. 9 shows MicroStrategy bought 21,550 BTC for $2.1 billion between Dec. 2 and 8.
This acquisition boosts MicroStrategy's Bitcoin holdings to 423,650 BTC, worth $41.5 billion, at an average price of $98,783.
