Michael Saylor Tips MARA Holdings To Join Nasdaq-100 Index
Earlier this week, an American business intelligence and software firm co-founded by Michael Saylor bagged a listing on the Nasdaq-100 Index. This inclusion has triggered a lot of commentary in the Bitcoin ecosystem with firms like MARA Holdings congratulating the company.
Michael Saylor and MARA Holdings Projection
Among those that congratulated MicroStrategy for its Nasdaq 100 inclusion was Fred Thiel, the Chairman and CEO at MARA Holdings. He spotlighted MicroStrategy as the first “#bitcoin treasury company to join the NASDAQ 100.”
In response, Michael Saylor said he expects that MARA Holdings will also join the prestigious Nasdaq-100 list soon.
Both companies are trailing the blaze per shoring up their treasury reserves with massive Bitcoin acquisition. While both firms had different business models, the high affinity for BTC joins them together. Thus far this month, MARA Holdings have raised over $700 million from private notes offering.
As Coingape reported earlier, MARA Holdings acquired 11,774 BTC for $1.1 billion this week. This latest acquisition pushed its total holdings to 40,435 BTC with a cumulative valuation of $3.9 billion.
The Bitcoin treasury strategy that MicroStrategy adopted over 4 years ago has rubbed off on its broader stock performace. This ruboff helped the firm meet the listing criteria for the Nasdaq 100 which includes 250,000 daily stock volume and timely financial disclosures.
While MARA Holdings is relatively far from bagging such listing, CEO Thiel said the firm is working hard to achieve similar milestone.
Thanks. We are working hard to get there.
— Fred Thiel (@fgthiel) December 14, 2024
Despite numerous firms now embracing a Bitcoin-first strategy, Michael Saylor likely sees MARA’s chances of meeting the goals as high considering its current stock performance.
Influencing Nations With Strategic Bitcoin Reserve
A very big shift in the crypto world is the growing interest for a strategic Bitcoin reserve from different world governments.
With the victory of President-elect Donald Trump, conversations around a strategic Bitcoin reserve has grown. Besides the plans to establish a crypto advisory council to oversee the reserve, Senator Cynthia Lummis has drafted a Bill in that regard.
Per the provisions of the Bill, the US will acquire 1,000,000 Bitcoin over a period of 5 years. To complement this, Texas Rep Giovanni Capriglione has also filed a Bill to establish a Bitcoin reserve in the state.
While nations like El Salvador and Bhutan are leading in this regard, the success of companies like MicroStrategy may further inspire more countries to join the BTC reserve train.
The post Michael Saylor Tips MARA Holdings To Join Nasdaq-100 Index appeared first on CoinGape.
