MicroStrategy Joins Nasdaq 100 With 500% Stock Surge, $2.1B Buy-In Triggered by 439,000 BTC Holdings

Dec 22, 2024, 05:31 PM

MicroStrategy Inc. is set to join the Nasdaq 100 index on December 23, 2024, marking a significant milestone for the company and its aggressive Bitcoin strategy. The inclusion follows a 500% surge in MicroStrategy's stock price in 2024, driven by its substantial Bitcoin holdings, which now total 439,000 BTC, valued at over $40 billion. This move is expected to trigger a $2.1 billion forced buy-in from index funds. The company's strategy, led by Chairman Michael Saylor, involves using stock sales and convertible bonds to fund further Bitcoin purchases, with MicroStrategy having acquired 52,300 BTC worth $5.1 billion this month alone. This approach has been met with both enthusiasm and caution from investors, given Bitcoin's volatility.