Strategy Maintains Position in Nasdaq 100 Index Amid Debate Over Classification

Source: CryptoNewsNet Original Title: Michael Saylor’s Strategy Hangs on to Spot in Nasdaq 100 Index Original Link: https://cryptonews.net/news/finance/32132909/ Bitcoin-heavy firm Strategy (MSTR) will remain in the Nasdaq 100 index, surviving the annual reshuffle that saw several household names dropped.

The firm, which began as business software provider MicroStrategy, pivoted in 2020 to stockpiling bitcoin as its core strategy. It has since then accumulated 660,624 BTC worth $59.55 billion, and it was added to the index last December.

Unlike traditional companies in the index, Strategy’s performance is tightly tethered to bitcoin’s price. Its business model, which involves buying and holding massive quantities of the cryptocurrency, has inspired similar moves by smaller firms but drawn criticism from analysts and index providers.

That criticism has seen some analysts argue the firm acts more like a bitcoin investment vehicle than a traditional business. The Nasdaq 100 index focuses on non-financial firms listed in the Nasdaq, which means being classified a holding company would mean it’s ineligible for inclusion.