MicroStrategy shares jump as bitcoin proxy will join Nasdaq-100 index and 'QQQ' ETF

Published On Dec 16, 2024, 6:12 AM

MicroStrategy's shares rose after the announcement that it will be included in the Nasdaq-100 index, which takes effect on December 23. This inclusion is expected to lead to increased investor interest and passive inflows because MicroStrategy will also be part of the Invesco QQQ ETF that tracks this index. The company's stock has skyrocketed 547% in 2024, driven by surging Bitcoin prices, and MicroStrategy has recently acquired over 15,000 additional Bitcoin, making it the largest corporate Bitcoin holder.

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Stock Forecasts

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Positive

The inclusion in the Nasdaq-100 and QQQ ETF likely leads to substantial passive investment inflows, which can further boost the stock price. Given the massive appreciation in stock price over the current year and ongoing strong Bitcoin performance, MicroStrategy is set for continued positive momentum.

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