Key Takeaways
- MicroStrategy will join the Nasdaq-100 Index on Dec. 23.
- This move broadens Bitcoin exposure for major institutional investors.
- Saylor continues to advocate for Bitcoin adoption at large corporations.
Nasdaq announced that Michael Saylor’s MicroStrategy (MSTR) will be added to the Nasdaq-100 Index starting Dec. 23.
The company joins Palantir Technologies and Axon Enterprise as new entrants, replacing Illumina, Super Micro Computer, and Moderna.
The inclusion underscores MicroStrategy’s market strength, making it one of the Nasdaq’s 100 largest stocks by market capitalization.
Known for pivoting to Bitcoin in 2020, MicroStrategy’s treasury now holds approximately 158,245 BTC, worth over $16 billion at recent prices.
Broader Bitcoin exposure for investors
The addition places MSTR into the portfolio of the Invesco QQQ Trust (QQQ), an exchange-traded fund (ETF) managing $322 billion in assets.
This effectively gives Bitcoin exposure to every pension fund, sovereign wealth fund, and individual retirement account tracking the index.
Crypto analyst Will Clemente commented:
Every large pension fund, sovereign wealth fund, and individual retirement account in the world is going to have Bitcoin exposure.
Saylor’s continued advocacy
The announcement follows Michael Saylor’s recent pitch to Microsoft shareholders, urging the tech giant to embrace Bitcoin.
At Microsoft’s Dec. 10 meeting, Saylor argued that integrating Bitcoin into its balance sheet could add $5 trillion to its market cap, though shareholders ultimately rejected the proposal.
MicroStrategy’s inclusion in the Nasdaq-100 highlights its evolving role as both a software company and a Bitcoin proxy for institutional investors.
