Official press releases from MicroStrategy or major financial news outlets.

MicroStrategy to Join Nasdaq 100 on Dec. 23, Triggering $2.1 Billion ETF Buying Spree

Dec 11, 2024, 12:23 PM

MicroStrategy Inc. is set to join the Nasdaq 100 index on December 23, with an official announcement scheduled for Friday. The company, which has seen its shares surge by 650%, is expected to have a 0.47% weight in the index, ranking as the 40th largest company. This inclusion could trigger a $2.1 billion buying spree by ETFs tracking the Nasdaq 100, which manage $550 billion in assets. The move is seen as bullish for Bitcoin, as MicroStrategy has significant holdings in the cryptocurrency. However, the company's inclusion in the S&P 500 remains unlikely due to profitability concerns. Market analysts from Bernstein predict that MicroStrategy's momentum will further accelerate following this inclusion.