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What will be MicroStrategy's rank in the Nasdaq 100 by December 31, 2025?
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Story
MicroStrategy Acquires 5,262 Bitcoin for $561 Million at $106,662 Each, Totaling 444,262 Ahead of Nasdaq 100 Entry
Dec 23, 2024, 02:20 PM
MicroStrategy has acquired an additional 5,262 Bitcoin for $561 million, averaging $106,662 per coin, as the company prepares to enter the Nasdaq 100 index. This purchase marks the seventh consecutive week of Bitcoin acquisitions by MicroStrategy, which now holds a total of 444,262 Bitcoin at an average cost of $62,257 per Bitcoin. The firm has been actively increasing its Bitcoin holdings, with its stock experiencing a surge of over 500% in recent months, attributed to its aggressive investment strategy in digital assets. Additionally, MicroStrategy has proposed a significant increase in its authorized shares, potentially up to 10 billion, to facilitate further Bitcoin purchases. The company's strategy is seen as a pivotal move in the cryptocurrency market, especially as it gains exposure through the Nasdaq 100, which could lead to increased inflows from passive investment funds.
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