MicroStrategy Joins Nasdaq 100: A Major Milestone for Bitcoin

MicroStrategy, a well-known advocate for Bitcoin, officially joined the Nasdaq 100 on Friday. This significant development reflects the company's ascent to the ranks of prestigious firms. The Nasdaq Stock Market announced this listing in a press release discussing the annual adjustments to the Nasdaq-100 index.

Following the announcement, MicroStrategy's stock (MSTR) experienced a slight uptick in after-hours trading, rising by 0.57%. Currently, the stock is valued at $411.00, after starting the day at $400.07, as reported by MarketWatch.

This achievement is particularly significant for Bitcoin supporters, marking a pivotal moment that illustrates the evolution of the cryptocurrency sector towards gaining institutional recognition.

The Nasdaq 100, established in 1985, comprises the top 100 non-financial companies listed on the Nasdaq Stock Market. This diverse group includes giants like Apple, Meta, Microsoft, Amazon, and Nvidia. The Nasdaq 100 serves as an important benchmark for assessing performance and investor sentiment towards non-financial firms.

MicroStrategy was founded in 1989 by Michael Saylor, initially focusing on business intelligence and analytics solutions. However, in recent years, the company's aggressive stance on Bitcoin has garnered significant attention.

Under Saylor's leadership, MicroStrategy began accumulating Bitcoin in 2020, launching a bold $425 million investment. Fast forward four years, and the company has deepened its commitment to Bitcoin, recently expanding its holdings by an additional $1.5 billion.

As of now, MicroStrategy holds over 423,650 Bitcoin (BTC), valued at approximately $42.8 billion, making it the largest corporate holder of Bitcoin globally.

Bitcoin, MicroStrategy, Nasdaq