MicroStrategy, a leading company in investing in Bitcoin with the famous Bitcoin enthusiast CEO Michael Saylor, has joined the Nasdaq 100 index, marking a major milestone for not only MicroStrategy but also the cryptocurrency industry. This move highlights the company’s role in driving Bitcoin’s integration into mainstream finance and expanding institutional exposure to cryptocurrency.
MicroStrategy’s Historic Movement
Nasdaq has announced the inclusion of Michael Saylor’s MicroStrategy (MSTR) in the prestigious Nasdaq 100 index, starting from Dec. 23. Joining alongside Palantir Technologies Inc. (PLTR) and Axon Enterprise, Inc. (AXON), MicroStrategy replaces companies like Illumina, Inc. (ILMN) and Moderna, Inc. (MRNA). This milestone marks how MicroStrategy has transformed from a software company into a leading Bitcoin investment vehicle since 2020. Furthermore, this inclusion has brought Microstrategy into the Invesco QQQ Trust (QQQ), a major ETF managing $322 billion in assets, which will significantly increase exposure to Bitcoin through indirect means.
Read more: Only 0.55% of Microsoft Shareholders Voted in Favor of Investing in Bitcoin
Crypto Industry and Saylor’s Vision
The crypto industry sees this development as a historic milestone for the Web3 & Cryptocurrency industry. A well-known cryptocurrency analyst and researcher Will Clemente noted that MSTR’s inclusion will help Bitcoin bring more exposure from institutional investors like pension and sovereign wealth funds. CIO of Hartmann Capital, Felix Hartmann, emphasized that fund managers benchmarking against the Nasdaq may now seek direct exposure to Bitcoin or MSTR to remain competitive.
This announcement is announced after Michael Saylor’s pitch to Microsoft’s board about persuading the tech giant corporation to invest in Bitcoin. At the pitch meeting, he also argued that adopting Bitcoin could add nearly $5 trillion to Microsoft’s market cap.
Read more: Czech Republic Makes Bitcoin Tax-Free for Long-Term Holders
Conclusion
This move to Wall Street from MicroStrategy is surprising to the cryptocurrency world as his latest pitch against Microsoft investment funds failed recently. However, this entry into the Nasdaq 100 has marked their first brick into the traditional economy, which will attract Bitcoin’s deeper integration into traditional finance. As traditional finance’s interest in crypto increases over time, this move from MicroStrategy could attract more major Bitcoin adoption across traditional markets.
