As a seasoned crypto investor with a knack for recognizing market trends and a touch of gray hair to prove it, I must say that the potential addition of MicroStrategy to the Nasdaq-100 index is an intriguing development. With my years of experience under my belt, I can’t help but feel a sense of déjà vu as we witness another crypto-centric company inching closer to mainstream adoption.
It’s generally anticipated that business intelligence company MicroStrategy will be included in the Nasdaq-100 index by the end of today.
The list of constituents will be updated at 8 p.m. ET (01:00 UTC).
Based on data from Polymarket users, it’s estimated that there’s a 77% likelihood of the company being included in the specified index at present.
In the recent past, as an analyst, I found myself pondering over MicroStrategy’s potential inclusion in an index. Michael Saylor, co-founder of the company, expressed uncertainty about this matter. In his words, “It’s beyond my authority, it’s out of our control. Whether it happens or not remains to be seen.
The Nasdaq-100 Index, with a market capitalization of approximately $27.85 trillion, encompasses significant firms such as Alphabet, Facebook (Meta), and Airbnb. Collectively, these companies’ annual revenue exceeded an impressive $4.2 trillion in the last year.
Adding MicroStrategy to the Nasdaq-100 implies that Exchange Traded Funds (ETFs) managing approximately $350 billion in assets will need to acquire the company’s shares as a part of their holdings.
According to U.Today’s report, MicroStrategy moved up into the top 100 largest corporations based on market cap last year, approaching a position that could see it overtake technology leader Intel.
The company’s stocks are presently rising by 2.16%, in anticipation of being included in the Nasdaq-100 index.
According to a report by U.Today, it’s anticipated that MicroStrategy will follow in the footsteps of data analytics company Palantir and be included as a new addition.
In more straightforward terms, Bitwise, a prominent organization managing cryptocurrency index funds, has forecasted that Coinbase, the foremost U.S. cryptocurrency exchange, could potentially be included in the S&P 500 stock market index by the year 2025.
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2024-12-13 21:03