Michael Saylor's company, MicroStrategy, known for its significant Bitcoin holdings, will join the Nasdaq-100 Index starting December 23.
MicroStrategy Among Largest
Nasdaq announced that MicroStrategy, along with Palantir Technologies and Axon Enterprise, will be added to the Nasdaq-100 Index. This decision comes as Illumina, Super Micro Computer, and Moderna are removed from the index. Being part of the index means MicroStrategy is now among the top 100 largest stocks by market capitalization.
Crypto Industry's Reaction
The news of MicroStrategy's inclusion in the Nasdaq-100 prompted quick reactions from the crypto industry. Crypto analyst Will Clemente stated that every large pension fund and sovereign wealth fund will now have Bitcoin exposure. Bitwise Invest's Jeff Park highlighted this as the trade of the decade just beginning.
Michael Saylor's Bitcoin Efforts
Recently, Michael Saylor presented a case to Microsoft's board to hold Bitcoin in their balance sheets, claiming it could add almost $5 trillion to the market cap. However, Microsoft's shareholders voted against this proposal during the annual meeting.
The addition of MicroStrategy to the Nasdaq-100 highlights the company's strategic focus on Bitcoin and reflects Michael Saylor's growing influence in the crypto space.
