MicroStrategy Will Join Nasdaq 100
MicroStrategy, known for its high volatility and correlation with the price of Bitcoin, will be added to the Nasdaq 100 index, potentially further driving up demand for the controversial stock, which has seen a significant surge this year along with the cryptocurrency’s price.
The Nasdaq 100 index consists of the 100 largest non-financial companies listed on the tech-focused Nasdaq Composite index. Inclusion in the index means that popular ETFs like the Invesco QQQ Trust, which holds $325 billion in assets, will be required to purchase shares of MicroStrategy.
With this news, the value of MicroStrategy stock could potentially see a boost. The stock has already increased by sixfold this year, while Bitcoin has risen by nearly 140% in the same period. The announcement of this change came after the stock market closed on Friday.
