Bitcoin Reaches New High As MicroStrategy Prepares To Join Nasdaq 100 (And More!)
Bitcoin has surged to new heights, recently surpassing $106,000 before stabilizing at around $104,768, marking a significant milestone for the cryptocurrency. This surge is being closely followed by the stock market, particularly due to MicroStrategy's announcement that it will join the Nasdaq-100 Index on December 23, 2024. MicroStrategy, a major Bitcoin advocate under the leadership of Michael Saylor, holds a significant amount of Bitcoin, with its treasury now containing over 158,000 BTC valued at more than $16 billion at current prices.
The inclusion of MicroStrategy in the Nasdaq-100 is expected to amplify Bitcoin's exposure, particularly to institutional investors, as the company’s stock will be added to major ETFs like the Invesco QQQ Trust, which oversees assets worth $322 billion. This move also reflects MicroStrategy’s growing position as a Bitcoin proxy for large investors and further strengthens its role in the tech and crypto sectors
Read more:Australian regulator sues Binance for exposing customers to risky trading
Comments
Post a Comment