MicroStrategy Set to Join Nasdaq 100 Following Bitcoin Stock Surge
MicroStrategy may soon join the Nasdaq 100, potentially replacing Moderna, due to its recent stock surge fueled by Bitcoin. Analysts Eric Balchunas and James Seyffart predict inclusion could occur this Friday, with an official listing on December 23. This change would represent a significant milestone for MicroStrategy as one of the top 100 publicly traded firms in the U.S.
MicroStrategy is currently classified as a tech stock, which allows it to bypass Nasdaq’s restrictions on financial companies. However, this classification may be re-evaluated in March, posing a potential obstacle. Seyffart noted that while the company’s substantial Bitcoin investments tie its performance to the cryptocurrency market, its status as a tech stock remains unchanged at present.
Driven by consecutive Bitcoin purchases, MicroStrategy’s stock has increased by 500% this year. Despite becoming a major Bitcoin holder, Nasdaq still categorizes it as a tech company, allowing it to meet criteria for index inclusion unless reclassification occurs before the deadline.
Balchunas indicated that adding MicroStrategy to the Nasdaq 100 would reflect its rising prominence, particularly as a leader in corporate Bitcoin adoption. Seyffart emphasized that reclassification risks remain the main hurdle for potential inclusion. The final decision rests with Nasdaq, with an announcement expected by the end of this week.
MicroStrategy’s inclusion would highlight Nasdaq’s evolving relationship with cryptocurrency. While the exchange has made limited moves into the crypto space, it facilitated BlackRock’s Ethereum ETF options earlier this year. Adding MicroStrategy could indicate greater openness to crypto-related companies in the future.
This potential move illustrates how Bitcoin’s influence can reshape traditional market dynamics, positioning MicroStrategy as a key player in both the tech and crypto sectors. The company's inclusion in the Nasdaq 100 will depend on upcoming decisions, but it remains a strong contender for this significant milestone.