Nasdaq has announced that Michael Saylor’s company, MicroStrategy, will have its stock (MSTR) added to the Nasdaq-100 Index, as of Dec. 23.
MicroStrategy is one of three companies to be added to the index alongside Palantir Technologies Inc. (PLTR), and Axon Enterprise, Inc. (AXON), according to a Dec. 13 statement published by Nasdaq.
MSTR now among Nasdaq’s 100 largest stocks by market cap
Meanwhile, Nasdaq said that Illumina, Inc. (ILMN), Super Micro Computer, Inc. (SMCI), and Moderna, Inc. (MRNA) will be removed from the index.
The placement means that MicroStrategy, a software company that became a de facto Bitcoin hedge fund in 2020, is among the Nasdaq’s 100 largest stocks by market capitalization.
On Dec. 11, Cointelegraph reported that the inclusion in the Nasdaq 100 will add MSTR to the portfolio of Invesco QQQ Trust (QQQ), an exchange-traded fund (ETF) with approximately $322 billion in assets under management (AUM).
Crypto industry quick to react
The crypto industry was quick to react to the announcement.
Crypto analyst Will Clemente wrote in a Dec. 13 X post, “Now that MSTR is getting added to the Nasdaq, every large pension fund, sovereign wealth fund, and individual retirement account in the world is going to have Bitcoin exposure.”
Bitwise Invest head of alpha strategies Jeff Park added, “The trade of the decade is just getting started. Buckle up.”
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
