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    MicroStrategy joins Nasdaq 100 index alongside Palantir and Axon, expected to boost Bitcoin’s profile in global finance

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    MicroStrategy, a company known for its substantial Bitcoin investment, along with Palantir Technologies and Axon Enterprise will join Nasdaq’s top 100 index from December 23. MicroStrategy’s inclusion will also enter it into the Invesco QQQ Trust portfolio, a significant ETF. Crypto experts predict this will introduce Bitcoin to major global financial institutions and funds. Meanwhile, MicroStrategy’s CEO’s recent attempt to persuade Microsoft’s board to add Bitcoin to its balance sheet was unsuccessful.

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    Nasdaq just shared that Michael Saylor’s company, MicroStrategy (MSTR), known for its heavy Bitcoin investment, will be joining their Nasdaq-100 Index from Dec. 23. Along with MicroStrategy, Palantir Technologies Inc. (PLTR), and Axon Enterprise, Inc. (AXON) will also be added to the index. On the flip side, Illumina, Inc. (ILMN), Super Micro Computer, Inc. (SMCI), and Moderna, Inc. (MRNA) are being taken off the index.

    MicroStrategy’s addition to Nasdaq means the software company turned Bitcoin hedge fund is now among the index’s top 100 stocks in terms of market cap. It was also mentioned that adding MSTR to the Nasdaq 100 will include it in Invesco QQQ Trust (QQQ) portfolio, a significant ETF with about $322 billion in AUM.

    The crypto community was quick to respond to the news. One crypto analyst, Will Clemente, predicted that MSTR’s addition to Nasdaq will introduce Bitcoin to all the big pension funds, sovereign wealth funds, and individual retirement accounts across the globe. Jeff Park, head of alpha strategies at Bitwise Invest, is expecting big things, encouraging everyone to “buckle up.” Founder of Hartmann Capital, Felix Hartmann, is waiting for the markets to open to see the real impact of this news.

    Interestingly, Saylor recently tried and failed to convince Microsoft’s board to add Bitcoin to its balance sheet, proposing it could add almost $5 trillion to its market cap if it embraced Bitcoin. He argued that Microsoft should convert its cash flows, dividend payouts, debt and stock buybacks into Bitcoin or risk missing out on Bitcoin’s potential.

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