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 change comes into effect prior to market open on Dec. 23, Nasdaq added.
FILE PHOTO: Representation of the bitcoin cryptocurrency and a price chart are seen in this illustration taken October 24, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoMicroStrategy 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.An inclusion in the index typically boosts stock prices, as exchange-traded funds looking to replicate the index's performance buy shares of the included firm.
The company began buying and holding bitcoin in 2020 as revenue from its software business waned and is now the largest corporate holder of the cryptocurrency. Bernstein analysts expect the market will likely set its sights on S&P 500 inclusion for MicroStrategy in 2025 following the Nasdaq-100 inclusion.
Bitcoin has rallied in recent weeks as U.S. President-elect Donald Trump's victory heightened the crypto sector's hopes for easing regulatory roadblocks. Earlier this month, the digital asset catapulted above $100,000 for the first time.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MicroStrategy's bitcoin-powered surge takes it closer to Nasdaq 100 doorstepA meteoric rise in MicroStrategy's shares has made the bitcoin hoarder a likely candidate for the tech-heavy Nasdaq 100 index ahead of an annual reshuffle this week.
Read more »
Singapore Ranks Ninth in Euromonitor International's Top 100 City Destinations Index 2024Singapore has been ranked ninth in the Euromonitor International's Top 100 City Destinations Index 2024, marking a significant position in the global city rankings.
Read more »
Singapore Ranks 9th on Euromonitor International's Top 100 City Destinations Index 2024Singapore has been ranked 9th on Euromonitor International's Top 100 City Destinations Index 2024, marking the first time the city has entered the top ten. The ranking is attributed to Singapore's strong economic and business performance and enhanced tourism policies.
Read more »
Bangladesh's interim leader urges 'patience' after 100 days in powerDHAKA: Bangladesh's interim leader Muhammad Yunus begged the country's "patience" to prepare for much-awaited elections in a speech to the nation marking 100 days in power since a student-led revolution. The 84-year-old Nobel Peace Prize winner was
Read more »
Global rankings: Singapore is the 5th best city among 100 in the world Singapore News%
Read more »
Political office holders, govt agencies among over 100 victims of blackmail over deepfake imagesVictims were threatened with the distribution of the images unless a ransom was paid.
Read more »