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MicroStrategy Joins Nasdaq 100 as Bitcoin Price Soars
In a remarkable turn of events, MicroStrategy has officially joined the prestigious Nasdaq-100 index, marking a significant milestone for the company. This development comes on the heels of a remarkable surge in the price of Bitcoin (BTC), which recently surpassed $101,762.26.
As reported earlier, the correlation between MicroStrategy’s stock performance and the value of Bitcoin has been strikingly strong, largely due to the company’s substantial holdings of the cryptocurrency. The acquisition of an additional 51,780 BTC for $4.6 billion has further solidified this connection, with the total value of its holdings now exceeding $30 billion.
This strategic move by MicroStrategy is seen as a bold statement in support of Bitcoin’s potential as a viable inflation hedge and store of value. In light of this development, it is not surprising that the company would be recognized for its commitment to embracing blockchain technology and cryptocurrency.
Source: u.today
