MicroStrategy to Be Added to Major Equity Index
The MicroStrategy (MSTR) stock has been added to the MSCI World Index, which captures large and mid-cap companies across 23 developed markets.
The company's stock is up more than 105.44% since the start of the year, greatly outperforming Bitcoin.
US companies account for more than 70% of the MSCI World Index. Japan and the UK come in second and third places, respectively (6.06% and 4%). When it comes to specific sectors, information technology is in the lead with a 23.22% slice of the pie. Financial, healthcare, and industrials are also in the lead.
Alex DovbnyaMicroStrategy's market cap currently stands at $23.02 billion after its shares added 4% on Tuesday to reach nearly $1,300 per share. Still, the stock is down substantially from its 2024 peak of $1,919.
The business intelligence company, which went public in 1998, reached its current all-time high of $3,130 back in March 2000 during the peak of the dot-com bubble. The stock ended up collapsing to just $5 within a year. After two decades under the radar, Saylor managed to revive his company by making a bold Bitcoin bet that has ultimately paid off.
Bitcoin instead of MicroStrategy?
While MicroStrategy has shown incredible performance this year, not everyone is excited.
As reported by U.Today, famous CNBC host Jim Cramer recently urged his viewers not to buy the company's stock. Those who want Bitcoin exposure should opt for the underlying asset instead, according to Cramer.
Growing institutional adoption
In the meantime, Bitcoin bull Michael Saylor recently predicted that all pension funds will "need some Bitcoin."
This came after the State of Wisconsin Investment Board (SWIB) revealed that it had scooped up nearly $100 million worth of shares of BlackRock's IBIT.
Valeria Blokhina
Vladislav Sopov
Dan Burgin
U.Today Editorial Team