MicroStrategy attained a significant milestone on Friday by becoming a member of the prestigious Nasdaq 100 index, thereby securing its position among some of the world’s foremost technology titans.
The Nasdaq announcement disclosed the annual modifications to the index, which encompasses prominent companies such as Amazon, Microsoft, and Apple. The stock of MicroStrategy (MSTR) experienced a slight increase of 0.57% in after-hours trading following the news, rising to $411 from the day’s opening price of $400.07.
This accomplishment is considered a significant forward step by those in the cryptocurrency community, as it represents the increasing adoption of Bitcoin by conventional institutions.
Founded in 1989 by Michael Saylor, MicroStrategy is a pioneer in the development of business intelligence and analytics solutions. However, in recent years, it has garnered even more attention for its daring Bitcoin strategy. The company’s initial response to its decision to invest $425 million in Bitcoin in 2020 was one of skepticism. MicroStrategy has continued to strengthen its commitment, most recently adding an additional $1.5 billion to its portfolio.
Currently, the organization is the largest corporate owner of Bitcoin, with a valued of approximately $42.8 billion and a total of 423,650 BTC. MicroStrategy has emerged as a prominent figure in the intersection of traditional business and digital currencies as a result of its aggressive investment strategy.
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