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MicroStrategy Joins Nasdaq 100 as Bitcoin Price Soars
In a remarkable turn of events, MicroStrategy, the software company, has officially joined the prestigious Nasdaq-100 index. This significant milestone comes at a time when the Bitcoin (BTC) price has surpassed $101,000, further solidifying its position as a leading cryptocurrency.
As reported earlier, MicroStrategy’s stock performance is heavily influenced by its massive investment in Bitcoin. The company’s decision to hold BTC as a reserve asset has led to a striking correlation between MSTR and the cryptocurrency. This close tie is not surprising given that MicroStrategy holds over 331,000 BTC worth $30 billion.
The recent surge of almost 2% to reach $101,762.26 highlights the potential for Bitcoin’s growth in the long term. As more companies like Marathon Digital and Semler Scientific follow MicroStrategy’s lead by acquiring BTC as a hedge against inflation, we may see an even greater correlation between MSTR and the cryptocurrency.
MicroStrategy’s inclusion in the Nasdaq-100 index underscores its commitment to innovation and technological advancements, aligning with the values of the respected stock market listing.
Source: u.today
