MicroStrategy will now be included in the Nasdaq 100 index, which could potentially drive up demand for the controversial stock. The Nasdaq 100 index is made up of the top 100 nonfinancial companies listed on the tech-focused Nasdaq Composite index.
This addition means that popular ETFs, such as the Invesco QQQ Trust, which has $325 billion in assets, will automatically start buying MicroStrategy shares. As a result, the stock price of the Bitcoin proxy could experience an increase.
Currently, the stock price has risen over six times this year, while the price of Bitcoin has only increased by about 140% in the same period. The change, which will take effect on December 23 before the market opens, was announced on Friday after the stock market closed.
Investors had been anticipating MicroStrategy’s inclusion in the index, which was confirmed during this week’s rebalancing.
