MicroStrategy Inc. (MSTR.O), a leading software company and prominent Bitcoin holder, is set to join the Nasdaq 100 on December 23. The inclusion in the $25.7 trillion index, which tracks the largest non-financial companies, reflects its growing relevance in the tech and cryptocurrency sectors.
Aug. 11, 2020, is a day that changed the cryptocurrency market forever, for better or for worse. For technology company MicroStrategy (MSTR 4.20%) and its shareholders, it seems that it was a change for the better.
Shares of MicroStrategy were higher Monday after Nasdaq announced the bitcoin proxy will join the tech-heavy Nasdaq-100 index.
For many years, MicroStrategy (MSTR 4.20%) was a sleepy tech stock. Between 2010 and 2020, the data mining and analytics software provider only grew its annual revenues at a compound annual rate of 0.6%, and it struggled to stay relevant against nimbler cloud-based competitors like Salesforce.
MicroStrategy will be added to the tech-heavy Nasdaq-100 Index, the exchange operator said on Friday, following a meteoric surge in the shares of the bitcoin buyer.
, the preferred high beta play on the price of bitcoin, will join the Nasdaq 100 index, a move that could further increase demand for the controversial stock that has been on a torrid run this year alongside the price of the cryptocurrency.
Andy Baehr says it's important to consider the macro factors weighing on Bitcoin to determine if it's run up continues. According to him, bullish indicators include lower volatility and crypto-related names like Microstrategy (MSTR) correlating up with Bitcoin.
@spotgamma 's Brent Kochuba joins Oliver Renick to discuss the options market impact on stocks, with his take on "Gamma Analysis" in today's trading world. Then, Oliver and Brent look at real world "FOMO" examples of Gamma impact in GameStop (GME), Microstrategy (MSTR), Salesforce (CRM), Tesla (TSLA) and Nvidia (NVDA).
MicroStrategy (MSTR -4.67%) still sells enterprise software, focused on data analytics and business intelligence. However, most investors see it as a direct bet on Bitcoin (BTC -0.64%) these days, and for good reason.
Investors will not be surprised to hear that MicroStrategy executive chairman and former CEO Michael Saylor is bullish on Bitcoin.
It seems Bitcoin BTC/USD miners have found their muse—and it's none other than MicroStrategy Inc MSTR.
MicroStrategy (MSTR 9.03%) is making a massive bet on the success of Bitcoin.