As of now, MicroStrategy holds a total of 423,650 bitcoins (accounting for 2.017% of the total bitcoin supply), with a total purchase cost of approximately $25.6 billion and an average purchase price of about $60,324.
Written by: 1912212.eth, Foresight News
Recently, news that MicroStrategy will officially join the Nasdaq-100 Index on December 23 has attracted market attention. In recent years, MicroStrategy has been aggressively accumulating BTC with almost limitless firepower, and its chairman, Michael Saylor, stated earlier this month that the MSTR business has brought about 120,000 bitcoins in net gains for its shareholders.
If it can officially join the Nasdaq-100 Index, does it mean that MicroStrategy's influence will further increase, providing more ammunition for purchasing bitcoins?
The Nasdaq-100 Index is a stock index launched by the Nasdaq Stock Exchange, consisting of the 100 largest non-financial companies listed on the Nasdaq. This index reflects the overall market performance of these companies and is one of the important indices that global investors pay attention to.
The Nasdaq-100 Index does not include companies from the financial sector, such as banks and insurance companies, and is known for being dominated by high-tech companies. The index includes many well-known tech companies, such as Apple, Microsoft, and Amazon, with significant representation from the technology and internet sectors.
In addition to the above conditions, there are corresponding requirements for market capitalization, stock liquidity, visibility, and company financial profitability to be selected for the Nasdaq-100 Index.
Since 2020, MicroStrategy has been using BTC as its main reserve asset. With MicroStrategy's aggressive buying, the strong rise of bitcoin in the new cycle has also led to a surge in its stock price. In January 2023, the MSTR stock price was only $150, while in March 2024, the stock price soared to a maximum of $1999.99, with a market capitalization of several hundred billion dollars. In just over a year, its stock price return rate has exceeded 1000%.
Currently, according to Crypto Briefing, an official confirmation announcement is expected to be released on December 13. If true, this will significantly enhance MicroStrategy's brand influence and also have considerable implications for the expansion of the cryptocurrency industry.
First, being included in the Nasdaq-100 Index will further boost investor confidence in MicroStrategy's stock, potentially leading to an increase in the company's stock price and attracting more institutional investors' attention.
Bloomberg ETF analyst James Seyffart recently stated that ETFs tracking the Nasdaq-100 Index are expected to purchase $2.1 billion worth of MicroStrategy stock, accounting for about 20% of the company's daily trading volume.
The premium issuance of stocks allows MicroStrategy to have more funds to purchase bitcoins, driving up bitcoin prices, thereby increasing its net asset value and earnings per share.
Secondly, being included in the Nasdaq-100 Index will help drive the market up, and the increase in market capitalization will, in turn, push MicroStrategy into more indices (such as the S&P 500), leading to an increase in related derivatives and trading volume, which will lower MicroStrategy's debt financing costs and thus reduce the overall debt ratio.
As of December 8 this year, data shows that MicroStrategy holds a total of 423,650 bitcoins (accounting for 2.017% of the total bitcoin supply), with a total purchase cost of approximately $25.6 billion and an average purchase price of about $60,324.
For the cryptocurrency industry, the influence of the Nasdaq-100 may also inspire more companies to follow MicroStrategy and join the ranks of bitcoin investors. As more institutional investors enter the cryptocurrency market, the market demand for bitcoin may further increase, driving up BTC prices.
However, some have expressed that there are still uncertainties. Bloomberg analyst James Seyffart commented that whether MicroStrategy (MSTR) can be classified as part of the Nasdaq-100 may depend on its ICB classification. If the company's operational business is software as a service, it will classify it as a tech stock. However, its stock performance is currently largely tied to financial engineering, stemming from its bitcoin purchases.
MicroStrategy chairman Michael Saylor has stated that he hopes to transform MicroStrategy into a "bitcoin bank." If the ICB reclassifies MicroStrategy as a financial stock, it will not meet the qualifications for the Nasdaq-100.
The results are expected to be officially announced on December 13, so let's wait and see.
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