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MicroStrategy on Track to Become Part of Nasdaq-100
In a significant development, it has been reported that MicroStrategy, the business intelligence company led by CEO Michael Saylor, is expected to join the Nasdaq-100 index. This move would see the company’s shares added to an ETF with roughly $350 billion worth of assets under management.
As a result, it is likely that institutional investors will be forced to buy MicroStrategy’s shares in order to track the performance of the index. This could potentially drive up the price of the company’s stock, as we have seen in previous cases where this has happened.
It is worth noting that MicroStrategy has had an incredible run recently, with its shares increasing by over 2% today alone. The company’s valuation has been boosted by its significant investments in Bitcoin and other cryptocurrencies.
It remains to be seen how this development will impact the cryptocurrency market as a whole. However, one thing is certain: this move has significant implications for institutional investors and the broader financial ecosystem.
Alex Dovbnya
Source: u.today
