On December 16, 2024, the cryptocurrency market saw a significant boost as MicroStrategy, a company known for its substantial Bitcoin holdings, was added to the Nasdaq 100 index. This move has major implications for both the company and the cryptocurrency market, increasing Bitcoin exposure in mainstream financial markets.

MicroStrategy, founded in 1989 by Michael J. Saylor, has transformed from a software company into a Bitcoin-centric firm since 2020, amassing over $42 billion in Bitcoin. Their decision to invest heavily in cryptocurrency has set them apart, earning the company the title of a "crypto whale" or "bandar" in the market. Now, with the company’s entry into the Nasdaq 100, Bitcoin is positioned to gain even more passive exposure.

The Nasdaq 100 tracks the largest non-financial companies listed on the Nasdaq Stock Exchange, including tech giants like Apple, Microsoft, and Tesla. By adding MicroStrategy, the index now holds substantial exposure to Bitcoin, which could encourage more institutional investors to consider crypto assets. ETFs that track the Nasdaq 100, such as the Invesco QQQ Trust, already manage over $550 billion in assets, which will now indirectly invest in Bitcoin through MicroStrategy’s holdings.

However, analysts caution that the inclusion may not be permanent. If MicroStrategy is classified as a financial company, its time in the Nasdaq 100 could be short-lived. Despite this, the move is expected to drive increased market interest in both MicroStrategy and Bitcoin, creating more demand from passive investors who invest in ETFs.

CNBCINDONESIA