The Nasdaq Stock Exchange announced changes to the Nasdaq-100, an index of the 100 largest companies by capitalization listed on the US stock exchange. Three companies will be added to the list: Palantir Technologies (PLTR), MicroStrategy (MSTR), and Axon (AXON).
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According to a press release from the organization, the changes will take effect before the market opens on December 23.
One of the startups on the list is financial company MicroStrategy, founded by Michael Saylor, focused on cryptocurrencies, particularly Bitcoin.
“MicroStrategy’s inclusion in the Nasdaq-100 is perhaps the second most important factor [для криптосферы] event in 2024 following the launch of spot ETFs in the US,” said CoinDesk senior analyst James Van Straten.
Since November 6, 2024, when Donald Trump announced his victory in the US presidential election, the value of Bitcoin has increased almost 1.5 times. On December 5, the value of the cryptocurrency, which a month ago was trading at less than 70 thousand dollars per token, surpassed the historical mark of 100 thousand dollars and exceeded 103 thousand dollars.
On November 18, MicroStrategy purchased another $4.6 billion worth of Bitcoin, increasing its cryptocurrency holdings to $30 billion.
According to Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, MicroStrategy’s market capitalization reached approximately $92 billion as of Nov. 29, the day the Nasdaq took stock of the market ahead of its annual index rebalancing, which would place it in 40th place in the Nasdaq-100 index with an approximate weight of 0.47%.
MicroStrategy’s addition to the Nasdaq-100 will significantly increase Bitcoin’s representation on the index, as Michael Saylor’s company currently holds around $42 billion in cryptocurrencies.
The largest Nasdaq-100 tracking ETF, Invesco QQQ Trust, manages more than $300 billion in digital assets.
Author:
Akhmed Sadulayev
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
