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MicroStrategy Lists on Nasdaq 100 Today; Will $MSTR Hit $400?
Michael Saylor-led MicroStrategy (MSTR) has officially joined the prestigious Nasdaq 100 index today, December 23, 2024. This significant milestone marks a turning point for the company, which initially started as a software firm and has now transformed into a leading player in the financial market.
Following this development, the $MSTR stock price has been experiencing fluctuations. As of the pre-market trading session, the current price stands at $357.50 per share on Trading View. Analysts predict that the prices may experience a possible rally due to increased visibility and potential institutional interest as MSTR becomes part of the Nasdaq 100 index. They also suggest that once the market opens, the stock prices could potentially hit the $400 mark.
MicroStrategy’s performance is deeply tied to its Bitcoin holdings, as the company currently holds an impressive 79.296K BTC according to Arkham Intelligence. This substantial amount of Bitcoin was acquired at a staggering estimated cost of $7.64 billion. At the time of writing, the price of the Bitcoin token has dipped by 1.5% in the last 24 hours and stands at $95,787.93.
Will MicroStrategy Buy More Bitcoin?
According to a recent Polymarket bet, an astonishing 89% of users believe that MSTR will purchase more Bitcoins before the end of 2024. The current price of the token is trading at $96,000, down from its all-time high of $108,000. This significant dip in price presents an attractive opportunity for institutions like MicroStrategy to acquire more Bitcoin at a lower cost.
As investors closely monitor MicroStrategy’s next moves, they will be keenly observing if it can hit the coveted $400 mark.
Source: www.cryptonewsz.com
