Travel and Leisure Travel and Leisure

Bitcoin buyer MicroStrategy jumps on Nasdaq 100 entry


Published on 2024-12-16 04:00:45 - Reuters
  Print publication without navigation

  • MicroStrategy shares rose nearly 7.4% in Frankfurt trading on Monday as the software company and bitcoin buyer was set to join the tech-heavy Nasdaq 100 index that could further fuel the steep rise in its stock price.

MicroStrategy Inc., known for its significant investments in Bitcoin, saw its shares surge after being added to the Nasdaq 100 Index. The inclusion, effective from December 18, 2024, reflects the company's growing prominence in the tech sector, driven by its strategy of using Bitcoin as a primary treasury reserve asset. This move by Nasdaq highlights the increasing acceptance of cryptocurrency-related businesses in mainstream financial indices. MicroStrategy's stock price jumped by 11% following the announcement, underscoring investor enthusiasm for the company's unique financial strategy amidst a broader market interest in digital currencies.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/bitcoin-buyer-microstrategy-jumps-nasdaq-100-entry-2024-12-16/ ]