Bitcoin advocates MicroStrategy is now part of Nasdaq 100, joining Apple, Tesla, and others in a milestone in crypto’s journey into the mainstream
MicroStrategy officially joined the Nasdaq 100 on Friday, cementing its place among an elite group of companies. Nasdaq announced the listing in a press release detailing the annual changes to the Nasdaq-100 index. MicroStrategy’s MSTR stock rose on news of the listing in after-hours trading 0.57% and is currently trading at $411.00, starting the day at $400.07, according to MarketWatch.
For Bitcoin enthusiasts, this milestone is a moment of vindication, showcasing how far the cryptocurrency industry has come in gaining institutional recognition.
Created in 1985, the Nasdaq 100 is an index of the top 100 non-financial companies on the Nasdaq Stock Market. These companies include Apple, Meta, Microsoft, Amazon, and Nvidia. The Nasdaq 100 serves as a benchmark for insights into performance and investor sentiment toward non-financial companies.
Founded by Michael Saylor in 1989, MicroStrategy is a business intelligence and analytics solutions company; in recent years, the company has become equally, if not more, well-known for its aggressive Bitcoin strategy.
Under Saylor, MicroStrategy began acquiring Bitcoin in 2020 as part of a bold—or foolhardy, as detractors said—$425 million investment. Fast forward four years, and MicroStrategy has only doubled down in its belief in Bitcoin, increasing its holdings by $1.5 billion earlier this month.
Currently, MicroStrategy holds over 423,650 BTC, worth around $42.8 billion, making it the largest corporate Bitcoin holder in the world.
History of MicroStrategy
MicroStrategy, a prominent player in the business intelligence and analytics software industry, was founded in 1989 by Michael J. Saylor, Sanju Bansal, and Thomas Spahr. The company’s initial focus was on developing software for data mining and business intelligence, leveraging nonlinear mathematics and systems-dynamics theory.
Key Milestones:
- 1992: Secured a significant contract with McDonald’s, marking a major milestone in its growth.
- 1996: Introduced web-based access to its flagship product, enabling clients to query databases without specialized software.
- 1998: Went public through an initial public offering (IPO).
- Early 2000s: Faced challenges related to financial reporting and legal issues, leading to a decline in share price.
- Recent Years:
- Bitcoin Adoption: Embraced Bitcoin as a long-term investment strategy, becoming one of the largest corporate holders of the cryptocurrency.
- Advocacy for Bitcoin: CEO Michael Saylor has emerged as a vocal advocate for Bitcoin, promoting its potential as a store of value and a hedge against inflation.
MicroStrategy’s strategic shift towards Bitcoin has significantly impacted its public image and financial performance. While the company continues to provide business intelligence and analytics solutions, its Bitcoin holdings have become a major focus for investors and the cryptocurrency community.
when MicroStrategy’s start buying Bitcoin
MicroStrategy began its Bitcoin buying spree in August 2020. 1 This marked a significant shift in the company’s investment strategy as they recognized Bitcoin’s potential as a long-term store of value.
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