- MARA Holdings aiming for Nasdaq 100 following a $600M Bitcoin purchase.
- MARA’s prospects improve with MicroStrategy’s Nasdaq 100 admission.
According to the founder of MicroStrategy, Michael Saylor, a fierce advocate of Bitcoin, crypto miner MARA Holdings will probably become a member of the Nasdaq 100 Index. On 14 December, Saylor responded to a congratulatory X post from Fred Thiel, the CEO of MARA and a former Twitter user. He suggested that MARA will likely be the next Bitcoin-oriented firm in the queue.
The Nasdaq 100 is an index that represents the 100 largest companies that are listed on the Nasdaq, categorized according to market capitalization. The news that has placed MicroStrategy in that list, according to what a December 13 statement made it clear, comes effective December 23rd, a lot of publicity around the market capitalization this amount to $94.77 billion, which gives them one of the leading businesses. Additionally, MARA Holdings, engaged in Bitcoin mining, has seen a significant increase since its market capitalization reached $7.32 billion on December 13.
MARA Holdings Concentrate on Bitcoin Growth
The prospective addition of MARA to the Nasdaq 100 is a result of the organization’s proactive investment approach towards Bitcoin. According to the company’s filing with the U.S. Securities and Exchange Commission on December 2, it has committed over $600 million to Bitcoin purchases over the last two months.
Thiel, the leader of MARA Holdings, articulated his aspiration for the company to become part of the Nasdaq 100, recognizing the competitive endeavor necessary for this achievement. Although MARA possesses a lower market capitalization relative to MicroStrategy, its dedication to investing in Bitcoin has established it as a formidable entity within the industry.
MARAS’ stock also went up to over 16.74 percent over the last six months and is trading at $22.73 on Dec.13. At the time of writing, it is trading at $22.73. Meanwhile, MicroStrategy stock went up by 173.27 percent during the said period and closed at $408.67.
For this, both are part of an emergent trend in the mainstream financial market that relates to an increasing focus of Bitcoin-driven businesses. A prediction regarding the inclusion of MARA in the Nasdaq 100 by Saylor adds optimism toward cryptocurrency-based businesses.
As cryptocurrency continues to infiltrate traditional financial markets, the inclusion of MARA into major indices like Nasdaq-100 would suggest that investors are starting to have a change of heart and embracing digital currencies, alongside their underlying infrastructure. MicroStrategy has already set a precedent, leaving the way open for Nasdaq to include MARA.
