Michael Saylor’s MicroStrategy Is Now Added to the Nasdaq 100 Index

Key Points:

• Michael Saylor’s MicroStrategy joins the Nasdaq 100 index, effective December 23.
• MicroStrategy’s growth is closely tied to the cryptocurrency market, particularly Bitcoin, which has experienced significant gains recently.

MicroStrategy, a Bitcoin investment company, was added to the prestigious Nasdaq 100 index after having seen its stock surge over the year.

Read more: MicroStrategy Bitcoin Purchase Expands Again With $2.1 Billion 

Michael Saylor’s MicroStrategy Joins Nasdaq 100 After Stock Surges

As of December 1, MicroStrategy‘s market capitalization has surged to nearly $98 billion, nearly doubling in value from earlier in the year. The growth has been highly attributed to the booming cryptocurrency market, with the firm’s stock price up nearly 500% in that time.

The change, which goes into effect before the market opens on December 23, was announced after the close of trading Friday. MicroStrategy had been highly expected to join the index as investors had speculated the company would join Nasdaq’s annual rebalancing.

The Nasdaq 100 consists of 100 non-financial companies from diverse sectors, including technology, retail, biotechnology, and healthcare. It includes some of the world’s largest corporations, such as Apple, Amazon, Google, and Microsoft.

By November 29, the market capitalization of Michael Saylor’s MicroStrategy stood at $92 billion, ranking it at 40th place in the index. At the time of announcing this fact, the value of the company had risen to even more than $ 98 billion, reflecting its considerable growth in 2023.

Microsoft Turns Down Bitcoin Proposal Amid Crypto Rally

Michael Saylor’s MicroStrategy is inextricably tied to the success of Bitcoin, which has surged in recent months. The surge also comes with political shifts: the optimism in cryptocurrencies is aligned with President-elect Donald Trump‘s rhetoric to make the U.S. the “crypto capital of the planet.”

This development comes days after Microsoft shareholders voted against the proposal to add Bitcoin to its balance sheets. MicroStrategy’s CEO, Michael Saylor, has just recently stated in a meeting that Microsoft could increase its market value by almost $5 trillion if it started embracing Bitcoin.