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MicroStrategy meets QQQ 📈

MicroStrategy meets QQQ 📈

With $42 billion worth of Bitcoin in its treasury, Michael Saylor's software firm MicroStrategy will be added to the Nasdaq 100.

Andrew Hayward
December 14, 2024

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📝 What you need to know

Late Friday, following weeks of speculation, Nasdaq announced that MicroStrategy—the largest corporate Bitcoin treasury reserve holder in the world—will join the Nasdaq 100 index in a milestone move for the crypto industry.

That puts the firm, fronted by founder and Executive Chairman Michael Saylor, in rare company, joining giants like Apple, Meta, Amazon, Microsoft, and Nvidia in the high-powered index of the 100 largest non-financial companies in the Nasdaq Composite. And it means that Invesco’s popular QQQ ETF, which tracks those 100 companies, will be buying MSTR shares. The move takes effect December 23.

MicroStrategy pioneered the Bitcoin strategy and started buying in 2020, sticking to Saylor’s vision amid the bear market and seeing that belief vindicated this year. MSTR is up nearly 500% since the start of the year as the firm’s Bitcoin holdings currently top $42 billion amid ongoing buys.

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