U.Today – Hit new highs after falling slightly as markets expected the Federal Reserve to lower interest rates later this week.
Bitcoin price recently rose 1.41% to $103,926, after reaching a record high of $106,554 in the early trading session on Monday, according to CoinMarketCap. Investors expect the Fed to cut interest rates this week at its two-day policy meeting, which ends on Wednesday.
MicroStrategy shares rose on Monday, ending more than 5% higher in premarket trading, according to CNBC data. In 2024, MicroStrategy stock rose 547% as Bitcoin prices reached all-time highs, significantly outpacing the S&P 500's 26.9% rise.
MicroStrategy has been accumulating Bitcoin reserves for years and using them as a proxy for the digital currency. With the recent purchase of 15,350 BTC, the company's Bitcoin inventory increased to 439,000 BTC. Bitcoin is currently up over 8% for the month and over 145% for the year.
MicroStrategy's MSTR gains momentum
Shares of Bitcoin agency MicroStrategy have been gaining momentum recently after it was revealed on Friday night that the company will join the tech-heavy Nasdaq 100 index later this month. The index's inclusion, effective December 23, follows MicroStrategy's impressive rally this year.
Nasdaq rebalances the Nasdaq 100 Index annually, and companies are selected primarily based on their market capitalization rankings as of the last trading day in November. Additionally, the stock must meet liquidity requirements and have a certain amount of free float.
An increase of more than 40% over the past three months has increased MicroStrategy's market value to approximately $100 billion, making it more than half of Nasdaq 100 members and meeting key membership requirements.
This recent move also means that MicroStrategy will be included in the famous Invesco QQQ Trust ETF, which tracks the Nasdaq 100. This could lead to passive inflows into MicroStrategy stock, giving it a further boost.
This article was originally published on U.Today
