Major Market Index Update: MicroStrategy’s Recent Performance Sends Shockwaves Through Financial Sector
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MicroStrategy on Track to Become Part of Nasdaq-100
In a shocking turn of events, crypto-friendly company MicroStrategy is on the cusp of being added to the Nasdaq-100 index. This sudden surge in market value has led many experts to speculate that the company’s inclusion will have a profound impact on the broader cryptocurrency and blockchain industry.
As reported by U.Today, MicroStrategy’s impressive performance has propelled it into the top 100 biggest companies by market capitalization, inching ever closer to surpassing chip giant Intel. The company’s shares are currently up 2.16% ahead of its likely appearance on the Nasdaq-100 index.
It is expected that once listed on the prestigious index, ETFs with roughly $350 billion worth of assets under management will be required to buy MicroStrategy’s shares, potentially leading to an explosive surge in value.
The company’s inclusion would put it alongside other industry giants like data analytics firm Palantir. This move has been hailed as a significant milestone for both the cryptocurrency and blockchain industries, which have been making rapid strides in recent years.
In related news, Bitwise, a leading index fund manager, recently predicted that Coinbase, the top US crypto exchange, would join the S&P 500 index by 2025.
The market implications of this move are still unclear, but it is expected to send shockwaves throughout the financial sector.
Source: u.today
