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MicroStrategy Skyrockets With Bitcoin’s Surge Past $106,000: Details
MicroStrategy, a business intelligence company, has seen its stock price skyrocket in recent days, with the surge attributed to the rapid increase in value of Bitcoin. The cryptocurrency market has been experiencing a significant upswing, with Bitcoin reaching new heights, surpassing $104,000.
In addition to its already substantial market value of around $100 billion, MicroStrategy’s impressive performance over the last three months has propelled it into the coveted position of being eligible for inclusion in the prestigious Nasdaq-100 index. This milestone is significant because it will allow passive inflows into the company’s stock through various exchange-traded funds (ETFs) and institutional investors that track the Nasdaq-100.
This development comes as a surprise, given MicroStrategy’s recent success with its investments in Bitcoin. In 2021, the company became one of the first major businesses to invest in Bitcoin, purchasing $250 million worth of the cryptocurrency. This bold move has since seen its stock price increase by over 40% in just three months.
As the market capitalization of MicroStrategy surpassed that of many Nasdaq-100 constituents, it has become increasingly likely that the company would be selected for inclusion. The recent surge in Bitcoin’s value has only strengthened this possibility further, pushing MicroStrategy closer to meeting the necessary criteria.
MicroStrategy’s increased prominence will not only be reflected in its potential inclusion in the Nasdaq-100 but also through its listing within the popular Invesco QQQ Trust ETF (QQQ). This is expected to trigger significant passive inflows into the stock, which could further drive up the company’s share price and boost investor confidence.
For more details about MicroStrategy’s latest developments, please visit our website
Source: u.today
