Strategy has retained its Nasdaq 100 ranking during the rebalancing this year, marking its first success in benchmark after joining in December of last year.
It is the world’s largest corporation to hold Bitcoin.BTC). Strategy has accumulated 660,624 BTC (worth nearly $60 billion) with its recent purchase of 10 624 Bitcoins for $962.7 Million.
In the latest Nasdaq 100 update, Biogen, CDW and GlobalFoundries were removed, and Lululemon and Trade Desk joined the list. Ferrovial and Insmed also made the cut, and Seagate, Western Digital, Monolithic Power Systems and Seagate, Inc., was added. according Reuters.
Strategy shares fell by 3.74% despite being included in the index. Recently, the shares of this company are in a decline. They have lost over 15 percent in just one month.
Related: MSCI’s Bitcoin snub is like penalizing Chevron for oil: Strategy CEO
MSCI Review puts Strategy at Risk
Strategy’s Nasdaq 100 inclusion is noteworthy not only for its unusual business model but also due to the ongoing debate about whether companies like this are de facto operating companies, or merely investment vehicles.
The questions intensified during this year. MSCI began reviewing How to classify firms that raise money primarily for the acquisition of digital assets. This index provider is considering excluding companies whose crypto assets exceed 50%. A move like this could impact Strategy as soon as January. JPMorgan has warned about passive funds holding up to $2.8 billion in Strategy shares. could be forced to sell If MSCI is able to follow through.
Leadership strategy has pushed back. In a Dec. 10 letter addressed to MSCI, Executive Chairman Michael Saylor argued with CEO Phong Le that the company was not an accumulator of Bitcoins but a business that issued preferred stocks and other instruments in order to fund new purchases.
Related: Bitcoin treasuries stall in Q4, but largest holders keep stacking sats
The strategy raises $1.4 Billion to fight FUD
Recent Strategy raised $1.44 billion To counter concerns about its ability to pay dividends and obligations if share prices fell further. “There was FUD that was put out there that we wouldn’t be able to meet our dividend obligations, which causes people to pile into a short Bitcoin bet,” Le said.
Saylor attended the Bitcoin MENA conference in Abu Dhabi. said He has met with bankers, family offices and sovereign wealth funds to promote Bitcoin. “digital capital” The following are some examples of how to get started: “digital gold.” He claimed that there is a category of new “digital credit” Built on Bitcoin, a new asset can provide yields without the typical volatility associated with it. This is what he wants to do: bring institutional money into the space.
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Source: cointelegraph.com
