Bitcoin Giant Strategy Keeps Spot in Nasdaq 100 Index

MicroStrategy (MSTR), the company that pivoted to accumulating bitcoin as its core strategy, has managed to keep its place in the Nasdaq 100 index following the annual rebalance, which takes effect on December 22. The firm, which now holds 660,624 BTC valued at $59.55 billion, was added to the index last December. Unlike most constituents, Strategy's performance is closely tied to bitcoin's price, leading to criticism that it functions more like a bitcoin investment vehicle than a traditional business. This classification issue is also being scrutinized by index provider MSCI, which is expected to rule in January on whether to exclude crypto treasury companies from its benchmarks. Strategy argues it remains an operating business, not an investment fund. The rebalance saw six companies dropped, including Biogen and Lululemon, and three added.

(Source：CoinDesk)