MicroStrategy Joins Nasdaq, Continues Its Record-Breaking BTC Purchases
Global software company MicroStrategy (MSTR) made a significant Bitcoin investment by purchasing 15,350 BTC for approximately $1.5 billion.
With this purchase, the company now holds a total of 439,000 BTC, increasing its portfolio value to $27.1 billion. This acquisition means that MicroStrategy owns 2% of the total Bitcoin supply currently available in the market. In its latest disclosure, the company reported an average cost of $100,386 per Bitcoin, highlighting a gain of 46.4% since the beginning of the year and a 72.4% gain since the beginning of the quarter.
MicroStrategy's move has sparked significant activity in the Bitcoin market, while the company's inclusion in the Nasdaq 100 index has also been a noteworthy development. As of December 23, MicroStrategy is set to be included in the Nasdaq 100, further promoting its visibility among millions of individual and institutional investors worldwide. This development is seen as a significant step with the potential to enhance the company's stock value.
Predictions by Saylor and His Impact on Bitcoin Michael Saylor, the founder of MicroStrategy, expresses strong support regarding the company's inclusion in the Nasdaq 100. Saylor frequently emphasizes his belief in Bitcoin, describing it as a robust engineering marvel from a thermodynamic perspective. He also believes that the crypto asset will continue to play a vital role in the future.
The price of Bitcoin, influenced by MicroStrategy's investments, rose to a new peak of $106,488.25. This price increase is supported by growing interest from investors and speculation regarding the new U.S. president's strategic reserve funds in Bitcoin. Market experts predict that MicroStrategy's increasing influence on Nasdaq may attract more institutional buyers to Bitcoin, potentially leading to prices exceeding previous record levels.
MicroStrategy's Inclusion in Nasdaq Resonates in the Crypto Industry The addition of MicroStrategy to the Nasdaq index has sparked criticism, reinforcing the company's position not only as a business intelligence firm but also as a Bitcoin reserve company. Under Saylor's leadership, MicroStrategy is known for its aggressive purchases aimed at adopting Bitcoin as a hedge against inflation and a primary reserve asset. This strategy has been maintained despite Bitcoin's volatility and potential regulatory challenges.
With MicroStrategy's inclusion in Nasdaq, the company's shares have been incorporated into several popular exchange-traded fund (ETF) portfolios, making it an investment option for millions of Americans. This situation has been celebrated by the crypto industry, paving the way for Saylor's company to be viewed as a Bitcoin proxy. This historic decision by MicroStrategy is considered a significant turning point in the sector.